Insider Selling: NVIDIA Co. (NASDAQ:NVDA) CEO Sells 120,000 Shares of Stock

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 value of $12,892,800.00.
• On Friday, August 30th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00.
• On Friday, August 9th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was 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 value 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 shares were 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 value 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 stock was 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.

NVIDIA Trading Down 4.1 %

Shares of NVIDIA stock opened at $102.83 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.14 and a current ratio of 4.27. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The stock has a 50 day moving average price of $118.61 and a two-hundred day moving average price of $104.38. The stock has a market capitalization of $2.53 trillion, a PE ratio of 60.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67.

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

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on NVDA. Truist Financial increased their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Susquehanna upped their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, June 10th. TD Cowen upped their price objective on NVIDIA from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wolfe Research upped their price objective on NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Institutional Trading of NVIDIA

Hedge funds have recently bought and sold shares of the business. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA during the first quarter worth $30,000. Norwood Financial Corp bought a new stake in NVIDIA during the first quarter worth $45,000. Finally, Coston McIsaac & Partners lifted its holdings in 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 during the period. 65.27% of the stock is currently owned by 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.