Insider Selling: NVIDIA Corporation (NASDAQ:NVDA) Director Sells 608,248 Shares of Stock

NVIDIA Corporation (NASDAQ:NVDA) Director Mark A. Stevens sold 608,248 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $145.26, for a total value of $88,354,104.48. Following the transaction, the director now owns 8,247,600 shares of the company’s stock, valued at $1,198,046,376. This represents a 6.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NVIDIA Price Performance

NVDA stock opened at $154.31 on Thursday. The stock has a market cap of $3.77 trillion, a price-to-earnings ratio of 49.78, a P/E/G ratio of 1.31 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company has a 50 day simple moving average of $128.75 and a 200 day simple moving average of $126.78. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $155.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. Research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.29%.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently bought and sold shares of NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the 4th quarter valued at approximately $40,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth approximately $50,000. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Truist Financial raised their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

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.