NVIDIA (NASDAQ:NVDA) Director Mark Stevens Sells 350,000 Shares

Key Points

• Director Mark Stevens sold 350,000 NVIDIA shares on Dec. 5 at an average price of $181.73 for about $63.6 million, trimming his stake by 4.73% to 7,049,803 shares valued at roughly $1.28 billion.
• NVIDIA beat quarterly expectations with EPS $1.30 vs. $1.23 and revenue of $57.01 billion (up 62.5% year-over-year), underscoring robust demand across its business lines.
• Analysts remain largely bullish, with a consensus rating of "Buy" and an average price target of $258.65 after several recent upward revisions.

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) Director Mark Stevens sold 350,000 shares of the stock in a transaction on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NVIDIA Stock Down 0.3%

NASDAQ:NVDA traded down $0.58 during trading hours on Tuesday, hitting $184.97. The stock had a trading volume of 143,932,089 shares, compared to its average volume of 224,510,859. The company has a market cap of $4.49 trillion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 0.90 and a beta of 2.29. The business has a 50 day simple moving average of $187.20 and a two-hundred day simple moving average of $172.73. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.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 firm earned $0.81 EPS. NVIDIA's quarterly revenue was up 62.5% on a year-over-year basis. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new stake in NVIDIA during the 2nd quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new position in shares of NVIDIA during the second quarter worth approximately $32,000. Longfellow Investment Management Co. LLC boosted its position in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker's stock valued at $33,000 after acquiring an additional 67 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of NVIDIA in the second quarter worth $40,000. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Zacks Research upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 24th. Benchmark upped their price objective on shares of NVIDIA from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, November 20th. BNP Paribas Exane raised their target price on shares of NVIDIA from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, November 18th. Wells Fargo & Company reiterated an "overweight" rating and issued a $265.00 price target (up from $220.00) on shares of NVIDIA in a research report on Friday, November 14th. Finally, Evercore ISI set a $352.00 price target on NVIDIA and gave the company an "outperform" rating in a report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $258.65.

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.

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