NVIDIA (NASDAQ:NVDA) Shares Down 2% on Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares dropped 2% during mid-day trading on Monday following insider selling activity. The stock traded as low as $119.37 and last traded at $119.24. Approximately 85,892,256 shares were traded during trading, a decline of 73% from the average daily volume of 320,524,091 shares. The stock had previously closed at $121.67.

Specifically, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Phillip Securities reissued an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.92 trillion, a PE ratio of 47.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company’s fifty day moving average is $128.66 and its 200-day moving average is $131.24.

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

NVIDIA Announces Dividend

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

Institutional Trading of NVIDIA

Several hedge funds have recently modified their holdings of NVDA. Members Wealth LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $1,616,000. Tableaux LLC bought a new stake in NVIDIA during the fourth quarter worth approximately $268,000. Keystone Financial Services LLC purchased a new stake in NVIDIA during the fourth quarter valued at approximately $1,020,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $1,288,798,000. Finally, Silver Oak Wealth Advisors Services LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $591,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.