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

NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NVIDIA Trading Up 4.0 %

NASDAQ NVDA opened at $120.87 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock’s 50-day moving average is $115.64 and its 200-day moving average is $107.64. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The firm has a market cap of $2.97 trillion, a P/E ratio of 70.68, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 122.4% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA announced that its board has initiated a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Aveo Capital Partners LLC boosted its holdings in NVIDIA by 30.5% during the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after buying an additional 5,496 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of NVIDIA by 0.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,515 shares of the computer hardware maker’s stock worth $2,236,000 after buying an additional 30 shares during the last quarter. Schneider Downs Wealth Management Advisors LP bought a new position in shares of NVIDIA in the 4th quarter valued at about $410,000. Finally, Gladstone Institutional Advisory LLC increased its position in shares of NVIDIA by 4.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 35,949 shares of the computer hardware maker’s stock valued at $17,803,000 after acquiring an additional 1,490 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Finally, DA Davidson reiterated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.10.

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.