NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe Sells 1,000,000 Shares

NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tench Coxe also recently made the following trade(s):

• On Thursday, September 19th, Tench Coxe sold 1,000,000 shares of NVIDIA stock. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00.

NVIDIA Stock Down 1.1 %

NVDA opened at $128.91 on Thursday. 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 cap of $3.16 trillion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.43 and a beta of 1.63. The business’s fifty day moving average is $139.72 and its two-hundred day moving average is $127.08. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. Analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SMART Wealth LLC raised its holdings in shares of NVIDIA by 24.6% in the 3rd quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock worth $2,254,000 after purchasing an additional 3,670 shares during the period. Brass Tax Wealth Management Inc. lifted its position in NVIDIA by 53.0% during the third quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock valued at $346,000 after buying an additional 985 shares in the last quarter. Legacy Wealth Management LLC MS grew its stake in NVIDIA by 60.5% during the third quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock worth $5,193,000 after buying an additional 16,115 shares during the period. SPX Gestao de Recursos Ltda raised its stake in shares of NVIDIA by 3.7% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock valued at $15,552,000 after acquiring an additional 4,523 shares during the period. Finally, Alternative Investment Advisors LLC. boosted its position in NVIDIA by 15.0% during the 3rd quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock worth $2,377,000 after purchasing an additional 2,547 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Needham & Company LLC boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.