NVIDIA (NASDAQ:NVDA) Stock Price Down 1% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares traded down 1% on Thursday after an insider sold shares in the company. The stock traded as low as $106.30 and last traded at $113.06. 188,516,250 shares traded hands during trading, a decline of 59% from the average session volume of 455,858,969 shares. The stock had previously closed at $114.25.

Specifically, Director Dawn E. Hudson sold 150,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the sale, the director now owns 555,000 shares in the company, valued at approximately $58,785,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dawn E. Hudson sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $114.00, for a total transaction of $5,700,200.00. Following the transaction, the director now owns 505,000 shares in the company, valued at approximately $57,572,020. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dawn E. Hudson sold 150,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the transaction, the director now owns 555,000 shares in the company, valued at approximately $58,785,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,720,723 shares of company stock worth $567,785,741. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NVDA. Sanford C. Bernstein upped their price target on shares of NVIDIA from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Wedbush upped their price target on shares of NVIDIA from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Craig Hallum upped their target price on shares of NVIDIA from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Loop Capital upped their target price on shares of NVIDIA from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group upped their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Six equities 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.59.

NVIDIA Trading Up 0.7 %

The firm has a fifty day moving average price of $120.63 and a 200 day moving average price of $93.64. The company has a market cap of $2.78 trillion, a price-to-earnings ratio of 66.12, a P/E/G ratio of 1.18 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 released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same period in the previous year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders 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 0.35%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s payout ratio is 2.34%.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. raised its stake in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after acquiring an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the last quarter. Swedbank AB grew its holdings in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after purchasing an additional 34,678,944 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter worth about $14,606,369,000. 65.27% of the stock is owned by institutional investors.

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.