NVIDIA Director Sells $20.5 Million in Stock

NVIDIA Co. (NASDAQ:NVDA) reached a notable event on Wednesday, October 9th, when Director Mark A. Stevens sold 155,000 shares of the company's stock. This transaction took place at an average price of $132.27 per share, bringing the total value of the sale to an impressive $20,501,850.00. Post-sale, Stevens holds 8,100,117 shares, which are valued at approximately $1,071,402,475.59. This sale reflects a negligible decrease in his ownership stake in the company.

NVIDIA Stock Performance

Following the recent stock movement, NVIDIA shares opened at $134.80 on Friday. The company's stock price has seen a 52-week low of $39.23 and a high of $140.76. Currently, NVIDIA has a market capitalization of around $3.31 trillion and boasts a P/E ratio of 63.23. The firm also has a 50-day simple moving average of $118.54 and a 200-day simple moving average of $110.62, indicating its recent performance trends.

Recent Financial Results

NVIDIA recently announced its quarterly earnings on August 28th, reporting earnings per share (EPS) of $0.68. This figure surpassed analysts' expectations, which had pegged the estimate at $0.64. Additionally, NVIDIA achieved a remarkable year-over-year revenue growth of 122.4%, with total revenues for the quarter reaching $30.04 billion compared to predictions of $28.74 billion. Overall, the company continues to show strong financial health, with a net margin of 55.04% and a return on equity of 113.50%.

Dividend and Stock Buyback Announcement

In light of recent developments, NVIDIA declared a quarterly dividend, which was paid out on October 3rd. Shareholders received a dividend of $0.01 per share. This translates to an annualized dividend yield of 0.03%. The NVIDIA board also approved a significant stock repurchase program, allowing the company to buy back up to $50 billion in shares. Such buyback programs are often perceived as an indication of management's belief in the undervaluation of their company’s stock.

Analyst Opinions

Equities analysts have expressed various opinions regarding NVIDIA’s stock. For instance, Deutsche Bank reaffirmed a 'hold' rating with a target price of $100. Meanwhile, Bank of America maintained a 'buy' rating and set a target price of $165. Several other firms have increased their price targets as well, indicating a generally positive outlook for NVIDIA among market analysts. Currently, there is a significant consensus with a strong buy rating from 37 analysts, highlighting the confidence in NVIDIA's future prospects.

Institutional Investment Changes

In recent trading activity, NVIDIA has caught the eye of institutional investors. Multiple funds have either acquired new stakes in NVIDIA or significantly increased their current holdings. For example, DHJJ Financial Advisors raised its stake by an impressive 1,900.0%. Institutional ownership of NVIDIA currently stands at 65.27%, reflecting strong confidence in the company from larger investors.

NVIDIA Overview

NVIDIA Corporation specializes in providing graphics and computational solutions globally. Their product lineup includes GeForce GPUs aimed at gamers, enterprise workstation graphics solutions, and platform software for automotive infotainment as well as metaverse applications. This broad range of offerings underscores NVIDIA's strong position in the technology and gaming sectors.

NVIDIA, Stock, Director