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

NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction of $119,270,000.00.

NVIDIA Price Performance

NVIDIA stock opened at $128.91 on Thursday. The business has a 50 day simple moving average of $139.72 and a 200 day simple moving average of $127.08. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company has a market capitalization of $3.16 trillion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th 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 Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DHJJ Financial Advisors Ltd. lifted its stake 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 valued at $25,000 after buying an additional 190 shares during the period. CGC Financial Services LLC bought a new stake in NVIDIA in the second quarter valued at approximately $26,000. Quest Partners LLC bought a new position in shares of NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter valued at $27,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in NVIDIA in the second quarter valued at about $31,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. 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. Truist Financial boosted their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Wells Fargo & Company raised their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.