Robert K. Burgess Sells 53,324 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NVIDIA Stock Up 1.8 %

Shares of NVDA stock opened at $117.52 on Thursday. The company’s fifty day simple moving average is $127.71 and its two-hundred day simple moving average is $131.12. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The stock has a market cap of $2.87 trillion, a P/E ratio of 46.25, a PEG ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given 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 Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently bought and sold shares of the business. AMF Tjanstepension AB lifted its stake in shares of NVIDIA by 2.2% in the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. raised its holdings in NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after buying an additional 265 shares during the period. SOA Wealth Advisors LLC. lifted its position in NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after buying an additional 350 shares during the last quarter. Willis Investment Counsel boosted its stake in NVIDIA by 19.6% during the third quarter. Willis Investment Counsel now owns 148,192 shares of the computer hardware maker’s stock worth $17,996,000 after buying an additional 24,282 shares during the period. Finally, Thomasville National Bank increased its position in NVIDIA by 432.3% during the third quarter. Thomasville National Bank now owns 83,923 shares of the computer hardware maker’s stock valued at $10,192,000 after acquiring an additional 68,158 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Phillip Securities restated an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. HSBC decreased their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Bank of America reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.76.

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.