NVIDIA (NASDAQ:NVDA) Stock Price Down 1% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares dropped 1% on Thursday following insider selling activity. The company traded as low as $106.30 and last traded at $113.06. Approximately 188,516,250 shares changed hands during trading, a decline of 59% from the average daily volume of 455,858,969 shares. The stock had previously closed at $114.25.

Specifically, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the transaction, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dawn E. Hudson sold 150,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the sale, the director now directly owns 555,000 shares of the company’s stock, valued at $58,785,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the sale, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,720,723 shares of company stock valued at $567,785,741. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company upped their price target on shares of NVIDIA from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. KeyCorp upped their price target on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Craig Hallum upped their price target on shares of NVIDIA from $85.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Raymond James upped their price objective on shares of NVIDIA from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.59.

NVIDIA Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The business’s 50 day moving average price is $120.63 and its 200-day moving average price is $93.64. The firm has a market capitalization of $2.78 trillion, a price-to-earnings ratio of 66.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.68.

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

NVIDIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were given a dividend of $0.10 per share. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.35%. The ex-dividend date was Tuesday, June 11th. NVIDIA’s dividend payout ratio is presently 2.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. SSI Investment Management LLC lifted its holdings in shares of NVIDIA by 899.2% in the second quarter. SSI Investment Management LLC now owns 32,485 shares of the computer hardware maker’s stock valued at $4,013,000 after purchasing an additional 29,234 shares in the last quarter. Nixon Peabody Trust Co. lifted its holdings in shares of NVIDIA by 856.7% in the second quarter. Nixon Peabody Trust Co. now owns 396,140 shares of the computer hardware maker’s stock valued at $48,939,000 after purchasing an additional 354,733 shares in the last quarter. Leisure Capital Management lifted its holdings in shares of NVIDIA by 856.7% in the second quarter. Leisure Capital Management now owns 19,985 shares of the computer hardware maker’s stock valued at $2,469,000 after purchasing an additional 17,896 shares in the last quarter. Encompass More Asset Management lifted its holdings in shares of NVIDIA by 1,613.4% in the second quarter. Encompass More Asset Management now owns 11,274 shares of the computer hardware maker’s stock valued at $1,393,000 after purchasing an additional 10,616 shares in the last quarter. Finally, Tower View Wealth Management LLC lifted its holdings in shares of NVIDIA by 782.3% in the second quarter. Tower View Wealth Management LLC now owns 53,960 shares of the computer hardware maker’s stock valued at $6,666,000 after purchasing an additional 47,844 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.