NVIDIA (NASDAQ:NVDA) Stock Price Down 1.3% Following Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s share price fell 1.3% during trading on Monday following insider selling activity. The company traded as low as $118.83 and last traded at $121.98. 106,922,492 shares were traded during mid-day trading, a decline of 78% from the average session volume of 481,639,313 shares. The stock had previously closed at $123.54.

Specifically, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $124.88, for a total value of $14,985,600.00. Following the sale, the chief executive officer now directly owns 80,334,995 shares of the company’s stock, valued at $10,032,234,175.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the transaction, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $124.88, for a total value of $14,985,600.00. Following the completion of the transaction, the chief executive officer now owns 80,334,995 shares of the company’s stock, valued at approximately $10,032,234,175.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,866,590 shares of company stock valued at $324,317,704. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on NVIDIA from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Wells Fargo & Company upped their price objective on shares of NVIDIA from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. CICC Research initiated coverage on shares of NVIDIA in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $87.00 target price on the stock. Piper Sandler upped their price target on shares of NVIDIA from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Morgan Stanley raised their price target on shares of NVIDIA from $116.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $126.34.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The company has a market capitalization of $3.06 trillion, a PE ratio of 72.69, a price-to-earnings-growth ratio of 1.30 and a beta of 1.68. The stock’s 50 day simple moving average is $106.24 and its 200-day simple moving average is $83.73.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were issued a dividend of $0.10 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.32%. NVIDIA’s dividend payout ratio is 2.34%.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Hamilton Wealth LLC lifted its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares during the last quarter. Brooklyn FI LLC lifted its position in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its stake in shares of NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC increased its holdings in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co raised its stake in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.