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

NVIDIA Co. (NASDAQ:NVDAGet Free Report) shares were down 1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $1,184.00 and last traded at $1,211.66. Approximately 32,979,631 shares traded hands during trading, a decline of 34% from the average daily volume of 49,850,094 shares. The stock had previously closed at $1,224.40.

Specifically, Director Dawn E. Hudson sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $1,059.20, for a total value of $15,888,000.00. Following the transaction, the director now directly owns 55,500 shares in the company, valued at $58,785,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Dawn E. Hudson sold 15,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $1,059.20, for a total transaction of $15,888,000.00. Following the transaction, the director now directly owns 55,500 shares in the company, valued at $58,785,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 11,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $905.65, for a total transaction of $9,962,150.00. Following the transaction, the director now owns 1,074,833 shares in the company, valued at $973,422,506.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,117 shares of company stock valued at $90,701,708. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. Needham & Company LLC raised their target price on shares of NVIDIA from $850.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Loop Capital initiated coverage on shares of NVIDIA in a report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 target price on the stock. Citigroup raised their target price on shares of NVIDIA from $1,030.00 to $1,260.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Mizuho raised their price target on NVIDIA from $1,180.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Barclays raised their price target on NVIDIA from $850.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,130.20.

Get Our Latest Analysis on NVDA

NVIDIA Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The stock has a market capitalization of $2.98 trillion, a PE ratio of 70.76, a PEG ratio of 1.25 and a beta of 1.70. The stock has a 50-day moving average price of $934.81 and a two-hundred day moving average price of $744.37.

NVIDIA shares are going to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same period in the previous year, the firm earned $0.88 EPS. The firm’s revenue was up 262.1% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Co. will post 25.32 earnings per share for the current year.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.03%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. NVIDIA’s dividend payout ratio is 0.94%.

Institutional Trading of NVIDIA

Several hedge funds have recently modified their holdings of NVDA. Tactive Advisors LLC increased its position in shares of NVIDIA by 158.9% during the 1st quarter. Tactive Advisors LLC now owns 4,145 shares of the computer hardware maker’s stock valued at $3,745,000 after purchasing an additional 2,544 shares during the last quarter. Maxwell Wealth Strategies Inc. bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $420,000. Cambridge Trust Co. increased its position in shares of NVIDIA by 135.5% during the 1st quarter. Cambridge Trust Co. now owns 78,906 shares of the computer hardware maker’s stock valued at $71,296,000 after purchasing an additional 45,406 shares during the last quarter. Motiv8 Investments LLC increased its position in shares of NVIDIA by 11.7% during the 1st quarter. Motiv8 Investments LLC now owns 1,126 shares of the computer hardware maker’s stock valued at $1,018,000 after purchasing an additional 118 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $1,269,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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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.

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