Tench Coxe Sells 1,000,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Tench Coxe also recently made the following trade(s):

• On Thursday, September 19th, Tench Coxe sold 1,000,000 shares of NVIDIA stock. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $134.70 on Friday. The company has a market capitalization of $3.30 trillion, a PE ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a 50 day simple moving average of $139.63 and a two-hundred day simple moving average of $127.25.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% in 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 period. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at about $26,000. Quest Partners LLC bought a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in NVIDIA in the second quarter worth approximately $31,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wedbush raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.