NVIDIA Co. (NASDAQ:NVDA) Director Sells $20,501,850.00 in Stock

NVIDIA Co. (NASDAQ:NVDA) Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NVIDIA Stock Down 0.0 %

Shares of NASDAQ NVDA traded down $0.01 during mid-day trading on Friday, reaching $134.80. The company had a trading volume of 169,744,005 shares, compared to its average volume of 422,430,250. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The stock has a market cap of $3.31 trillion, a P/E ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $117.99 and a two-hundred day simple moving average of $110.34.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Sell-side analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. Hamilton Wealth LLC boosted its holdings in shares of NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares during the last quarter. Brooklyn FI LLC lifted its stake in NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after acquiring an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its position in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC increased its stake in shares of NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co raised its holdings in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research analyst reports. Bank of America reiterated a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a research report on Thursday, September 5th. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. HSBC lifted their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.46.

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.