Jen Hsun Huang Sells 120,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $122.78, for a total value of $14,733,600.00. Following the sale, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jen Hsun Huang also recently made the following trade(s):

• On Friday, June 28th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $125.04, for a total value of $15,004,800.00.
• On Wednesday, June 26th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $124.88, for a total value of $14,985,600.00.
• On Monday, June 24th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $120.84, for a total value of $14,500,800.00.
• On Thursday, June 20th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00.
• On Thursday, June 13th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded down $1.63 during trading on Tuesday, reaching $122.67. 217,785,841 shares of the stock traded hands, compared to its average volume of 480,935,281. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The company has a 50-day moving average of $107.14 and a 200-day moving average of $84.26. The stock has a market capitalization of $3.02 trillion, a P/E ratio of 71.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same period in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was up 262.1% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.53 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11th. NVIDIA’s payout ratio is presently 2.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC increased their price target on NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Susquehanna increased their price target on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Raymond James increased their price target on NVIDIA from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 23rd. Wedbush increased their price target on NVIDIA from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Barclays lowered their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $126.34.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter worth about $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter worth about $30,000. Norwood Financial Corp bought a new position in NVIDIA in the 1st quarter worth about $45,000. Finally, Coston McIsaac & Partners increased its stake in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.