Jen Hsun Huang Sells 120,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jen Hsun Huang also recently made the following trade(s):

• On Tuesday, September 3rd, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00.
• On Friday, August 9th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $104.83, for a total value of $12,579,600.00.
• On Wednesday, August 7th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00.
• On Monday, August 5th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00.
• On Thursday, August 1st, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $113.04, for a total value of $13,564,800.00.
• On Friday, July 26th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00.
• On Wednesday, July 24th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00.
• On Monday, July 22nd, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $122.23, for a total value of $14,667,600.00.
• On Friday, July 19th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $119.06, for a total value of $14,287,200.00.
• On Wednesday, July 17th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $119.17, for a total transaction of $14,300,400.00.

NVIDIA Trading Down 1.7 %

NVDA stock traded down $1.79 during trading on Wednesday, hitting $106.21. The company had a trading volume of 371,017,603 shares, compared to its average volume of 443,866,531. The stock has a market cap of $2.61 trillion, a PE ratio of 63.60, a PEG ratio of 1.24 and a beta of 1.68. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.14 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $119.77 and a 200-day moving average of $104.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Research analysts predict that NVIDIA Co. will post 2.6 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA in the first quarter valued at $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA during the first quarter valued at about $45,000. Finally, Coston McIsaac & Partners increased its position in shares of NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NVDA shares. Wolfe Research raised their price target on NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. UBS Group lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.