NVIDIA (NASDAQ:NVDA) Shares Down 3.1% Following Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares fell 3.1% on Wednesday following insider selling activity. The company traded as low as $132.01 and last traded at $132.69. 86,212,282 shares were traded during trading, a decline of 78% from the average session volume of 394,418,625 shares. The stock had previously closed at $136.92.

Specifically, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVDA. Wells Fargo & Company raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. DA Davidson boosted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Mizuho raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Morgan Stanley raised their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 1.2 %

The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 2.45 and a beta of 1.66. The business has a 50-day moving average price of $135.61 and a 200-day moving average price of $123.34.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

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

Institutional Trading of NVIDIA

Several hedge funds have recently made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% during the 2nd 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 during the 2nd quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the 1st quarter valued at about $27,000. Finally, Quest Partners LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.