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

NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NVIDIA Trading Down 0.8%

Shares of NASDAQ:NVDA opened at $142.83 on Thursday. The company has a market capitalization of $3.49 trillion, a PE ratio of 56.21, a P/E/G ratio of 1.76 and a beta of 2.12. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $120.91 and its 200-day simple moving average is $126.34. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC grew its stake in NVIDIA by 0.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker’s stock valued at $10,989,000 after acquiring an additional 322 shares during the period. Wealth Group Ltd. grew its holdings in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $972,000. Capital & Planning LLC increased its stake in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Mechanics Bank Trust Department lifted its position in NVIDIA by 1.2% in the fourth quarter. Mechanics Bank Trust Department now owns 90,610 shares of the computer hardware maker’s stock valued at $12,168,000 after buying an additional 1,103 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Barclays reissued an “overweight” rating and issued a $170.00 target price (up from $155.00) on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research note on Wednesday, March 19th. Finally, Mizuho raised their target price on shares of NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $172.24.

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.