NVIDIA (NASDAQ:NVDA) Trading Down 1.5% on Insider Selling

Shares of NVIDIA Co. (NASDAQ:NVDA) traded down 1.5% on Thursday after an insider sold shares in the company. The company traded as low as $123.75 and last traded at $124.50. 78,850,609 shares were traded during mid-day trading, a decline of 84% from the average session volume of 484,624,031 shares. The stock had previously closed at $126.40.

Specifically, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now directly owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the transaction, the chief executive officer now directly owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now directly owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold 1,746,590 shares of company stock valued at $309,332,104 over the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark boosted their price target on shares of NVIDIA from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Rosenblatt Securities boosted their price target on shares of NVIDIA from $140.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Needham & Company LLC boosted their price target on shares of NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Melius Research boosted their price target on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, Craig Hallum upped their price objective on shares of NVIDIA from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

NVIDIA Stock Down 1.9 %

The stock has a market capitalization of $3.05 trillion, a P/E ratio of 72.51, a P/E/G ratio of 1.33 and a beta of 1.70. The company’s 50-day moving average price is $104.51 and its 200 day moving average price is $82.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.51 by $0.10. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue was up 262.1% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. As a group, equities analysts expect that NVIDIA Co. will post 2.52 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter valued at $27,000. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA during the fourth quarter valued at $28,000. Criterion Capital Advisors LLC purchased a new position in NVIDIA during the fourth quarter valued at $28,000. Finally, HBC Financial Services PLLC purchased a new position in NVIDIA during the first quarter valued at $30,000. 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.