Mark A. Stevens Sells 165,100 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NVIDIA Price Performance

NVIDIA stock opened at $121.40 on Friday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $115.88 and its 200 day simple moving average is $108.12. The firm has a market capitalization of $2.98 trillion, a PE ratio of 70.99, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its board has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. HSBC boosted their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. StockNews.com lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Citigroup upped their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Needham & Company LLC lifted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Sanford C. Bernstein upped their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.