Insider Selling: NVIDIA Co. (NASDAQ:NVDA) Director Sells 716 Shares of Stock

NVIDIA Co. (NASDAQ:NVDA) Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NVIDIA Stock Down 1.2 %

NVDA opened at $135.34 on Friday. The stock’s fifty day simple moving average is $135.61 and its 200 day simple moving average is $123.34. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The stock has a market cap of $3.31 trillion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 2.45 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

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

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Asset Advisors Investment Management LLC raised its holdings in NVIDIA by 0.4% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 81,453 shares of the computer hardware maker’s stock valued at $9,892,000 after acquiring an additional 343 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in shares of NVIDIA in the third quarter worth $4,975,000. Peapack Gladstone Financial Corp raised its stake in NVIDIA by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 324,348 shares of the computer hardware maker’s stock valued at $39,388,000 after purchasing an additional 20,540 shares in the last quarter. Synovus Financial Corp lifted its position in NVIDIA by 10.3% during the third quarter. Synovus Financial Corp now owns 1,215,693 shares of the computer hardware maker’s stock worth $147,635,000 after purchasing an additional 113,296 shares during the period. Finally, Castellan Group grew its stake in NVIDIA by 3.9% during the third quarter. Castellan Group now owns 53,843 shares of the computer hardware maker’s stock worth $6,539,000 after buying an additional 2,013 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Westpark Capital raised their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays raised their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Sanford C. Bernstein increased their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently 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.