NVIDIA (NASDAQ:NVDA) Stock Price Down 3.5% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s share price was down 3.5% on Wednesday following insider selling activity. The company traded as low as $117.39 and last traded at $118.29. Approximately 70,149,977 shares traded hands during trading, a decline of 85% from the average daily volume of 455,927,875 shares. The stock had previously closed at $122.59.

Specifically, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at approximately $10,474,135,774.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,600,723 shares of company stock worth $553,716,941. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVDA shares. Truist Financial restated a “buy” rating and set a $140.00 price target (up previously from $128.80) on shares of NVIDIA in a research report on Thursday, June 27th. Bank of America increased their target price on shares of NVIDIA from $132.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Evercore ISI increased their target price on shares of NVIDIA from $131.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Argus increased their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Piper Sandler increased their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.59.

NVIDIA Price Performance

The stock has a market capitalization of $2.88 trillion, a PE ratio of 69.18, a P/E/G ratio of 1.30 and a beta of 1.68. The firm’s 50 day simple moving average is $119.47 and its 200 day simple moving average is $92.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. During the same period last year, the firm posted $0.09 earnings per share. The business’s revenue was up 262.1% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 11th. NVIDIA’s payout ratio is presently 2.34%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Aurora Private Wealth Inc. boosted its holdings in NVIDIA by 20.4% in the fourth quarter. Aurora Private Wealth Inc. now owns 2,196 shares of the computer hardware maker’s stock valued at $1,088,000 after acquiring an additional 372 shares in the last quarter. Burns Matteson Capital Management LLC boosted its holdings in NVIDIA by 20.3% in the fourth quarter. Burns Matteson Capital Management LLC now owns 1,246 shares of the computer hardware maker’s stock valued at $617,000 after acquiring an additional 210 shares in the last quarter. Patton Fund Management Inc. boosted its holdings in NVIDIA by 3.0% in the fourth quarter. Patton Fund Management Inc. now owns 9,399 shares of the computer hardware maker’s stock valued at $4,655,000 after acquiring an additional 273 shares in the last quarter. Atwood & Palmer Inc. boosted its holdings in NVIDIA by 12.8% in the fourth quarter. Atwood & Palmer Inc. now owns 1,205 shares of the computer hardware maker’s stock valued at $597,000 after acquiring an additional 137 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in NVIDIA by 5.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 45,868 shares of the computer hardware maker’s stock valued at $22,715,000 after acquiring an additional 2,532 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.