Insider Selling: NVIDIA Co. (NASDAQ:NVDA) Director Sells $4,840,400.00 in Stock

NVIDIA Co. (NASDAQ:NVDA) Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NVIDIA Stock Up 3.4 %

NVIDIA stock opened at $122.85 on Friday. The firm has a market capitalization of $3.02 trillion, a P/E ratio of 71.84, a P/E/G ratio of 1.05 and a beta of 1.67. The stock’s fifty day simple moving average is $116.03 and its 200-day simple moving average is $108.96. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVDA. Westpark Capital upped their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays decreased their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 10th. UBS Group upped their price target on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. First Citizens Financial Corp grew its position in NVIDIA by 4.9% during the 3rd quarter. First Citizens Financial Corp now owns 6,556 shares of the computer hardware maker’s stock worth $796,000 after purchasing an additional 306 shares during the last quarter. Moody National Bank Trust Division increased its position in NVIDIA by 12.6% during the 3rd quarter. Moody National Bank Trust Division now owns 310,539 shares of the computer hardware maker’s stock worth $37,712,000 after purchasing an additional 34,638 shares during the period. Duncan Williams Asset Management LLC grew its holdings in NVIDIA by 30.2% during the third quarter. Duncan Williams Asset Management LLC now owns 11,418 shares of the computer hardware maker’s stock worth $1,387,000 after acquiring an additional 2,646 shares during the period. Abacus Wealth Partners LLC increased its holdings in shares of NVIDIA by 6.5% in the 3rd quarter. Abacus Wealth Partners LLC now owns 47,663 shares of the computer hardware maker’s stock valued at $5,788,000 after purchasing an additional 2,928 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its holdings in NVIDIA by 39.5% in the third quarter. Granite Bay Wealth Management LLC now owns 11,109 shares of the computer hardware maker’s stock valued at $1,349,000 after buying an additional 3,146 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.