Key Points
- NVIDIA director Mark Stevens sold 350,000 shares on December 5 at an average price of $181.73 for a total of $63.6 million, reducing his stake by 4.73% to 7,049,803 shares (valued at about $1.281 billion) per an SEC filing.
- NVIDIA reported strong quarterly results — $1.30 EPS and $57.01 billion in revenue (up 62.5% year-over-year) — and multiple analysts have raised price targets, leaving a consensus "Buy" rating with a $258.65 target.
NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) Director Mark Stevens sold 350,000 shares of the company's stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.73, for a total transaction of $63,605,500.00. Following the completion of the sale, the director directly owned 7,049,803 shares of the company's stock, valued at $1,281,160,699.19. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
NVIDIA Stock Performance
NVDA stock opened at $184.97 on Wednesday. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.49 trillion, a PE ratio of 45.90, a P/E/G ratio of 0.91 and a beta of 2.29. The business has a 50 day moving average of $187.17 and a 200-day moving average of $173.11. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $212.19.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm's revenue for the quarter was up 62.5% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 0.99%.
Institutional Investors Weigh In On NVIDIA
A number of institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL raised its position in NVIDIA by 7.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 19,937 shares of the computer hardware maker's stock worth $3,720,000 after purchasing an additional 1,412 shares during the period. Crosspoint Financial LLC boosted its position in NVIDIA by 1.6% during the third quarter. Crosspoint Financial LLC now owns 3,737 shares of the computer hardware maker's stock valued at $697,000 after buying an additional 60 shares during the period. Swiss Life Asset Management Ltd grew its stake in shares of NVIDIA by 5.3% during the third quarter. Swiss Life Asset Management Ltd now owns 8,508,387 shares of the computer hardware maker's stock valued at $1,587,495,000 after buying an additional 427,202 shares during the last quarter. Steadtrust LLC increased its holdings in shares of NVIDIA by 99.7% in the third quarter. Steadtrust LLC now owns 4,872 shares of the computer hardware maker's stock worth $909,000 after buying an additional 2,432 shares during the period. Finally, Stillwater Wealth Management Group purchased a new position in shares of NVIDIA in the third quarter worth about $5,020,000. Hedge funds and other institutional investors own 65.27% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Loop Capital raised their price objective on shares of NVIDIA from $250.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, November 3rd. Barclays raised their price target on NVIDIA from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, November 20th. Citigroup boosted their price objective on NVIDIA from $220.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, November 20th. Wolfe Research increased their price objective on NVIDIA from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, November 20th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $265.00 target price (up previously from $220.00) on shares of NVIDIA in a report on Friday, November 14th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, NVIDIA has a consensus rating of "Buy" and a consensus target price of $258.65.
View Our Latest Stock Report on NVDA
NVIDIA Company Profile
(
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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.
Further Reading
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