Insider Selling: NVIDIA Corporation (NASDAQ:NVDA) Director Sells $7,999,689.27 in Stock

NVIDIA Corporation (NASDAQ:NVDA) Director A Brooke Seawell sold 55,681 shares of NVIDIA stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $143.67, for a total value of $7,999,689.27. Following the sale, the director now owns 1,889,037 shares of the company’s stock, valued at approximately $271,397,945.79. This trade represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

A Brooke Seawell also recently made the following trade(s):

• On Tuesday, June 24th, A Brooke Seawell sold 54,467 shares of NVIDIA stock. The shares were sold at an average price of $146.88, for a total value of $8,000,112.96.
• On Friday, June 20th, A Brooke Seawell sold 55,282 shares of NVIDIA stock. The shares were sold at an average price of $144.71, for a total value of $7,999,858.22.

NVIDIA Trading Up 0.5%

Shares of NASDAQ:NVDA opened at $155.02 on Friday. The business’s 50-day moving average is $129.83 and its 200 day moving average is $126.89. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $156.72. The firm has a market capitalization of $3.78 trillion, a P/E ratio of 50.01, a P/E/G ratio of 1.36 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. On average, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent research reports. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Piper Sandler reissued an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.78.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of NVIDIA in the first quarter valued at about $97,728,000. Swedbank AB increased its holdings in shares of NVIDIA by 9.7% in the first quarter. Swedbank AB now owns 41,458,131 shares of the computer hardware maker’s stock valued at $4,493,232,000 after purchasing an additional 3,682,525 shares during the period. Real Talk Capital LLC increased its holdings in shares of NVIDIA by 12.2% in the first quarter. Real Talk Capital LLC now owns 7,522 shares of the computer hardware maker’s stock valued at $815,000 after purchasing an additional 820 shares during the period. Howe & Rusling Inc. grew its holdings in NVIDIA by 2.4% during the first quarter. Howe & Rusling Inc. now owns 169,225 shares of the computer hardware maker’s stock worth $18,341,000 after acquiring an additional 3,996 shares during the period. Finally, Guinness Asset Management LTD grew its holdings in NVIDIA by 5.3% during the first quarter. Guinness Asset Management LTD now owns 372,448 shares of the computer hardware maker’s stock worth $40,372,000 after acquiring an additional 18,691 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.