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

NVIDIA Co. (NASDAQ:NVDA)’s stock price fell 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. 76,152,375 shares traded hands during mid-day trading, a decline of 84% from the average session 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 firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the sale, the chief executive officer now directly owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark A. Stevens sold 227,000 shares of NVIDIA stock in a transaction on Friday, April 5th. The shares were 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 directly owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the completion of the transaction, the chief executive officer now directly owns 81,358,830 shares in the company, valued at approximately $10,474,135,774.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,106,590 shares of company stock valued at $354,056,104. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent research reports. Needham & Company LLC increased their price objective on NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Barclays reduced their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Citigroup boosted their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Melius Research increased their target price on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Finally, Jefferies Financial Group lifted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.34.

NVIDIA Stock Up 4.6 %

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

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, 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. Investors 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 yield of 0.31%. The ex-dividend date of this dividend was Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter worth about $27,000. LFA Lugano Financial Advisors SA bought a new position in shares of NVIDIA in the fourth quarter worth approximately $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Finally, HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.