NVIDIA (NASDAQ:NVDA) Stock Price Down 0.5% on Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares were down 0.5% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $115.37 and last traded at $115.37. Approximately 62,691,625 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 433,329,625 shares. The stock had previously closed at $116.00.

Specifically, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. Argus boosted their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Sanford C. Bernstein raised their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird increased their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Down 0.5 %

The firm’s 50 day simple moving average is $115.99 and its two-hundred day simple moving average is $107.24. The firm has a market cap of $2.84 trillion, a price-to-earnings ratio of 67.47, a PEG ratio of 1.06 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of NVIDIA

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

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.