NVIDIA (NASDAQ:NVDA) Stock Price Down 0.7% on Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares fell 0.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $115.38 and last traded at $115.39. 66,326,844 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 432,115,125 shares. The stock had previously closed at $116.26.

Specifically, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The disclosure for this sale can be found here. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of equities analysts recently commented on NVDA shares. Susquehanna lifted their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Argus boosted their price objective on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Truist Financial raised their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Down 0.7 %

The stock has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 67.48, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $115.75 and a two-hundred day moving average of $107.41.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Aveo Capital Partners LLC increased its stake in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in NVIDIA by 60.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after buying an additional 5,496 shares in the last quarter. CreativeOne Wealth LLC lifted its position in shares of NVIDIA by 19.1% in the fourth quarter. CreativeOne Wealth LLC now owns 11,149 shares of the computer hardware maker’s stock worth $5,521,000 after buying an additional 1,788 shares during the last quarter. Columbia Asset Management boosted its stake in shares of NVIDIA by 1.0% during the 4th quarter. Columbia Asset Management now owns 1,982 shares of the computer hardware maker’s stock worth $981,000 after acquiring an additional 20 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of NVIDIA by 141.4% during the 4th quarter. Assetmark Inc. now owns 319,636 shares of the computer hardware maker’s stock valued at $158,290,000 after acquiring an additional 187,248 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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.