NVIDIA Co. (NASDAQ:NVDA) CFO Sells $12,085,000.00 in Stock

NVIDIA Co. (NASDAQ:NVDA) CFO Colette Kress sold 100,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,188,862 shares in the company, valued at $627,073,972.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Colette Kress also recently made the following trade(s):

• On Friday, June 21st, Colette Kress sold 100,000 shares of NVIDIA stock. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00.

NVIDIA Stock Performance

Shares of NVDA opened at $123.99 on Friday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a market cap of $3.05 trillion, a PE ratio of 72.51, a P/E/G ratio of 1.33 and a beta of 1.70. The stock has a 50-day moving average of $104.51 and a 200-day moving average of $82.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be 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 is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.32%. NVIDIA’s dividend payout ratio is presently 2.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVDA. The Goldman Sachs Group upped their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Needham & Company LLC upped their price target on shares of NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley reiterated an “overweight” rating on shares of NVIDIA in a research note on Monday, June 10th. Bank of America increased their target price on shares of NVIDIA from $132.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Finally, 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 price target for the company. Five analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA during the first quarter worth $30,000. Norwood Financial Corp purchased a new stake in NVIDIA in the 1st quarter valued at $45,000. Finally, Coston McIsaac & Partners lifted its stake in NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is currently 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.