Insider Selling: NVIDIA Co. (NASDAQ:NVDA) CFO Sells $7,773,055.30 in Stock

NVIDIA Co. (NASDAQ:NVDA) CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Colette Kress also recently made the following trade(s):

• On Monday, June 24th, Colette Kress sold 100,000 shares of NVIDIA stock. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $116.00 on Monday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company’s 50 day simple moving average is $115.99 and its 200 day simple moving average is $107.24.

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

NVIDIA declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued 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 of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Institutional Trading of NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NVDA shares. Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Citigroup boosted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Bank of America reissued a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus 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.