NVIDIA (NASDAQ:NVDA) Director Stephen Neal Sells 15,500 Shares of Stock

NVIDIA Corporation (NASDAQ:NVDAGet Free Report) Director Stephen Neal sold 15,500 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the sale, the director directly owned 116,135 shares of the company’s stock, valued at approximately $25,053,803.55. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NVIDIA Stock Down 6.2%

Shares of NASDAQ:NVDA traded down $13.56 during trading on Friday, reaching $205.10. The stock had a trading volume of 218,244,486 shares, compared to its average volume of 172,647,859. The firm’s 50-day simple moving average is $202.84 and its 200 day simple moving average is $190.45. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04. NVIDIA Corporation has a one year low of $140.85 and a one year high of $236.54. The company has a market capitalization of $4.96 trillion, a P/E ratio of 31.41, a PEG ratio of 0.52 and a beta of 2.22.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The company had revenue of $81.62 billion during the quarter, compared to analysts’ expectations of $78.42 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. NVIDIA’s revenue for the quarter was up 85.2% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 8.04 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, June 4th. NVIDIA’s dividend payout ratio is currently 15.31%.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, May 20th that authorizes the company to buyback $80.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently bought and sold shares of NVDA. State Street Corp lifted its position in shares of NVIDIA by 1.2% during the 4th quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker’s stock valued at $184,911,111,000 after buying an additional 11,451,386 shares in the last quarter. Geode Capital Management LLC increased its holdings in NVIDIA by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker’s stock worth $109,446,217,000 after acquiring an additional 3,383,441 shares in the last quarter. Norges Bank acquired a new position in NVIDIA during the fourth quarter worth $62,244,133,000. Bank of America Corp DE lifted its holdings in NVIDIA by 2.1% during the first quarter. Bank of America Corp DE now owns 191,200,989 shares of the computer hardware maker’s stock valued at $33,345,453,000 after purchasing an additional 4,019,505 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in NVIDIA by 1.5% during the third quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker’s stock valued at $33,808,862,000 after purchasing an additional 2,609,560 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several research reports. Wedbush upped their target price on NVIDIA from $300.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Robert W. Baird set a $500.00 price target on NVIDIA and gave the company an “outperform” rating in a research note on Thursday, May 21st. Piper Sandler reissued an “overweight” rating on shares of NVIDIA in a report on Thursday, February 26th. Seaport Research Partners raised their price objective on NVIDIA from $140.00 to $180.00 and gave the stock a “sell” rating in a research note on Thursday, May 21st. Finally, Mizuho set a $300.00 target price on NVIDIA in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and a consensus target price of $305.67.

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NVIDIA Company Profile

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NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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