Colette Kress Sells 66,670 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Colette Kress also recently made the following trade(s):

• On Friday, September 20th, Colette Kress sold 66,670 shares of NVIDIA stock. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30.

NVIDIA Stock Performance

Shares of NVIDIA stock traded down $3.09 on Friday, reaching $134.25. 231,010,839 shares of the stock were exchanged, compared to its average volume of 385,521,438. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The business has a 50 day moving average price of $139.57 and a two-hundred day moving average price of $126.41. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 53.31, a PEG ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVDA shares. Barclays upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Evercore ISI upped their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Finally, Mizuho lifted their target price on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently bought and sold shares of the stock. City State Bank raised its position in shares of NVIDIA by 926.1% in the second quarter. City State Bank now owns 37,277 shares of the computer hardware maker’s stock worth $4,605,000 after acquiring an additional 33,644 shares during the period. Boltwood Capital Management boosted its position in NVIDIA by 883.6% during the second quarter. Boltwood Capital Management now owns 45,275 shares of the computer hardware maker’s stock worth $5,593,000 after purchasing an additional 40,672 shares in the last quarter. RVW Wealth LLC grew its holdings in NVIDIA by 941.6% in the second quarter. RVW Wealth LLC now owns 44,081 shares of the computer hardware maker’s stock valued at $5,446,000 after purchasing an additional 39,849 shares during the period. Burns Matteson Capital Management LLC grew its holdings in NVIDIA by 996.1% in the second quarter. Burns Matteson Capital Management LLC now owns 16,069 shares of the computer hardware maker’s stock valued at $1,985,000 after purchasing an additional 14,603 shares during the period. Finally, Great Waters Wealth Management increased its position in shares of NVIDIA by 921.4% in the second quarter. Great Waters Wealth Management now owns 53,887 shares of the computer hardware maker’s stock valued at $6,657,000 after buying an additional 48,611 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.