NVIDIA CAO David M. Shannon Unloads 2,445 Shares (NVDA)
NVIDIA (NASDAQ:NVDA) CAO David M. Shannon unloaded 2,445 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $19.05, for a total transaction of $46,577.25. Following the sale, the chief accounting officer now directly owns 240,917 shares in the company, valued at approximately $4,589,469. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
NVIDIA (NASDAQ:NVDA) traded up 1.41% on Wednesday, hitting $19.42. 4,227,687 shares of the company’s stock traded hands. NVIDIA has a one year low of $13.11 and a one year high of $19.46. The stock has a 50-day moving average of $18.62 and a 200-day moving average of $17.36. The company has a market cap of $10.836 billion and a P/E ratio of 22.48. NVIDIA also saw some unusual options trading activity on Tuesday. Stock investors purchased 4,381 put options on the stock. This is an increase of 289% compared to the typical daily volume of 1,127 put options.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.12. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.06 million. During the same quarter last year, the company posted $0.13 earnings per share. NVIDIA’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that NVIDIA will post $0.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, May 20th.
A number of analysts have recently weighed in on NVDA shares. Analysts at Canaccord Genuity initiated coverage on shares of NVIDIA in a research note on Tuesday. They set a “hold” rating and a $19.00 price target on the stock. Separately, analysts at ING Group upgraded shares of NVIDIA from a “strong sell” rating to a “sell” rating in a research note on Monday, May 19th. Finally, analysts at RBC Capital upgraded shares of NVIDIA from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $26.00 price target on the stock, up previously from $21.00. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.98.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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