Mark A. Stevens Sells 40,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. The sale was disclosed in a filing with the SEC, which is available at this link.

NVIDIA Stock Up 1.6 %

Shares of NVIDIA stock opened at $118.85 on Thursday. The business has a 50-day moving average of $115.81 and a 200-day moving average of $108.86. 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 has a market capitalization of $2.92 trillion, a PE ratio of 69.50, a P/E/G ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

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 business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On NVIDIA

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Mizuho upped their price target on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC upped their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Citigroup upped their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Bank of America restated a “buy” rating and issued a $165.00 price target on shares of NVIDIA in a report on Thursday, September 5th. Five investment 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.