NVIDIA (NASDAQ:NVDA) Shares Down 2.2% Following Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s share price dropped 2.2% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $121.03 and last traded at $121.59. Approximately 76,152,375 shares traded hands during trading, a decline of 84% from the average daily volume of 479,833,563 shares. The stock had previously closed at $124.30.

Specifically, Director Mark A. Stevens sold 227,000 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 10,521,330 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 227,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on 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 owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,106,590 shares of company stock valued at $354,056,104. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NVDA shares. Piper Sandler boosted their price objective on NVIDIA from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Mizuho upped their price objective on NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a report on Tuesday, June 4th. Robert W. Baird increased their price objective on NVIDIA from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. Citigroup boosted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Needham & Company LLC raised their price target on shares of NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Five 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.34.

NVIDIA Trading Up 4.6 %

The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 75.02, a P/E/G ratio of 1.29 and a beta of 1.68. The firm’s 50-day moving average is $107.95 and its 200 day moving average is $84.78.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 earnings per share. On average, equities analysts predict 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. Stockholders of record on Tuesday, June 11th were paid a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. NVIDIA’s dividend payout ratio is presently 2.34%.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth about $14,606,369,000. International Assets Investment Management LLC raised its position in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of NVIDIA by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares during the period. Finally, Capital World Investors boosted its position in shares of NVIDIA by 15.2% during the 4th quarter. Capital World Investors now owns 11,516,395 shares of the computer hardware maker’s stock valued at $5,703,149,000 after purchasing an additional 1,523,718 shares in the last quarter. 65.27% of the stock is currently owned by 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.