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

NVIDIA Co. (NASDAQ:NVDA) was down 2.2% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $121.03 and last traded at $121.59. Approximately 76,152,375 shares changed 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, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Tench Coxe sold 100,000 shares of the business’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 in the company, valued at approximately $3,544,451,651.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the sale, the chief executive officer now owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,106,590 shares of company stock valued at $354,056,104. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore ISI raised their price objective on NVIDIA from $131.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Argus raised their price target on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. KeyCorp upped their price objective on shares of NVIDIA from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. CICC Research began coverage on shares of NVIDIA in a research note on Wednesday, March 6th. They set an “outperform” rating and a $87.00 target price for the company. Finally, HSBC upped their price target on shares of NVIDIA from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $126.34.

NVIDIA Stock Up 4.6 %

The stock’s fifty day simple moving average is $107.95 and its two-hundred day simple moving average is $84.78. The stock has a market capitalization of $3.16 trillion, a P/E ratio of 75.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68. 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 issued its quarterly earnings data 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 company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Hedge Funds Weigh In On NVIDIA

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

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.