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

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, September 9th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00.
• On Thursday, September 5th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $107.44, for a total transaction of $12,892,800.00.
• 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 transaction of $13,291,200.00.
• On Friday, August 30th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00.
• 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 transaction 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 transaction 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 transaction of $13,564,800.00.
• On Friday, July 26th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was 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 transaction of $14,068,800.00.

NVIDIA Stock Up 1.9 %

NASDAQ:NVDA traded up $2.23 during mid-day trading on Thursday, reaching $119.14. The company’s stock had a trading volume of 363,873,500 shares, compared to its average volume of 440,500,313. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a fifty day moving average of $117.74 and a 200-day moving average of $105.37. The firm has a market capitalization of $2.93 trillion, a PE ratio of 69.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has initiated a stock buyback plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its holdings in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its holdings in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Wedbush reissued an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp raised their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Truist Financial lifted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five investment 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 company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

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.