NVIDIA (NASDAQ:NVDA) Shares Down 0.2% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s stock price fell 0.2% on Tuesday after an insider sold shares in the company. The company traded as low as $122.70 and last traded at $123.25. 53,938,023 shares were traded during mid-day trading, a decline of 88% from the average session volume of 457,826,500 shares. The stock had previously closed at $123.54.

Specifically, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders sold a total of 3,600,723 shares of company stock worth $553,716,941 over the last three months. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on NVDA shares. Needham & Company LLC upped their price target on NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp upped their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Argus upped their price target on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. HSBC upped their price target on NVIDIA from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Wedbush upped their price target on NVIDIA from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.59.

NVIDIA Stock Down 1.7 %

The stock has a 50-day simple moving average of $119.86 and a two-hundred day simple moving average of $93.08. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.76 trillion, a PE ratio of 67.14, a P/E/G ratio of 1.29 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Analysts expect that NVIDIA Co. will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is currently 2.34%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Access Financial Services Inc. grew its stake in shares of NVIDIA by 910.8% in the second quarter. Access Financial Services Inc. now owns 2,800 shares of the computer hardware maker’s stock worth $346,000 after purchasing an additional 2,523 shares during the last quarter. Keb Asset Management LLC grew its stake in shares of NVIDIA by 1,118.6% in the second quarter. Keb Asset Management LLC now owns 2,815 shares of the computer hardware maker’s stock worth $348,000 after purchasing an additional 2,584 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of NVIDIA by 910.6% in the second quarter. Independence Bank of Kentucky now owns 56,815 shares of the computer hardware maker’s stock worth $7,019,000 after purchasing an additional 51,193 shares during the last quarter. Optas LLC grew its stake in shares of NVIDIA by 930.2% in the second quarter. Optas LLC now owns 115,412 shares of the computer hardware maker’s stock worth $14,258,000 after purchasing an additional 104,209 shares during the last quarter. Finally, WT Asset Management Ltd lifted its holdings in shares of NVIDIA by 435.4% during the second quarter. WT Asset Management Ltd now owns 620,544 shares of the computer hardware maker’s stock valued at $76,662,000 after purchasing an additional 504,649 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.