Insider Selling: NVIDIA Co. (NASDAQ:NVDA) Director Sells 2,663 Shares of Stock

NVIDIA Co. (NASDAQ:NVDA) Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NVIDIA Trading Up 5.3 %

Shares of NVDA opened at $121.67 on Friday. The stock’s fifty day simple moving average is $129.26 and its 200-day simple moving average is $131.17. The firm has a market capitalization of $2.97 trillion, a PE ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. 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 released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Palisade Asset Management LLC increased its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the last quarter. SMART Wealth LLC grew its holdings in NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock valued at $9,711,000 after purchasing an additional 53,747 shares during the period. Blue Square Asset Management LLC increased its stake in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Narwhal Capital Management raised its holdings in NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares during the period. Finally, Tybourne Capital Management HK Ltd. boosted its position in shares of NVIDIA by 46.7% during the third quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after purchasing an additional 5,360 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NVDA shares. Bank of America boosted their target price on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Evercore ISI upped their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $171.51.

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.