NVIDIA (NASDAQ:NVDA) Shares Down 1.6% After Insider Selling

Shares of NVIDIA Co. (NASDAQ:NVDA) fell 1.6% on Monday following insider selling activity. The stock traded as low as $130.42 and last traded at $132.05. 82,063,847 shares traded hands during trading, a decline of 79% from the average session volume of 384,238,000 shares. The stock had previously closed at $134.25.

Specifically, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent analyst reports. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Melius Research upped their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, DA Davidson boosted their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Down 1.8 %

The company has a fifty day simple moving average of $139.76 and a 200-day simple moving average of $126.77. 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 cap of $3.23 trillion, a P/E ratio of 51.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. 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 announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hoertkorn Richard Charles grew its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares in the last quarter. Smart Portfolios LLC boosted its position in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares in the last quarter. Palisade Asset Management LLC boosted its holdings in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares in the last quarter. Total Wealth Planning LLC boosted its stake in NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH grew its position in NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other 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.