Harvey Jones Sells 250,000 Shares of NVIDIA (NASDAQ:NVDA) Stock

NVIDIA Corporation (NASDAQ:NVDA) Director Harvey Jones sold 250,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $177.33, for a total transaction of $44,332,500.00. Following the sale, the director directly owned 6,933,280 shares of the company’s stock, valued at $1,229,478,542.40. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

NVIDIA Stock Performance

NVIDIA stock opened at $174.14 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The firm’s 50 day simple moving average is $185.63 and its 200-day simple moving average is $174.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The company has a market cap of $4.23 trillion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 0.84 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was up 62.5% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is currently 0.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA during the 2nd quarter valued at about $28,000. Winnow Wealth LLC bought a new stake in NVIDIA during the second quarter worth approximately $32,000. Longfellow Investment Management Co. LLC grew its holdings in NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in shares of NVIDIA in the second quarter valued at approximately $40,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of NVIDIA in the third quarter valued at approximately $50,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Mizuho increased their price objective on NVIDIA from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Oppenheimer reissued an “outperform” rating and issued a $265.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. CICC Research boosted their price objective on shares of NVIDIA from $200.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Sanford C. Bernstein reiterated a “buy” rating on shares of NVIDIA in a research note on Tuesday, December 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 target price on shares of NVIDIA in a research note on Thursday, November 20th. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $261.67.

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.