Mark A. Stevens Sells 155,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

On October 9th, Director Mark A. Stevens of NVIDIA Co. (NASDAQ:NVDA) sold 155,000 shares of the company’s stock in a notable transaction. The shares were sold at an average price of $132.27, amounting to a total of $20,501,850. Following this sale, Stevens now owns 8,100,117 shares, with a total value of approximately $1,071,402,475.59. This transaction represents a 0.00% decrease in his ownership position. Details of the trade were made public through a filing with the Securities and Exchange Commission (SEC), which can be accessed on their official website.

NVIDIA Price Performance

As of the latest trading session, NVIDIA's shares opened at $134.80. The company has experienced significant fluctuations in its stock price over the past year, with a low of $39.23 and a high of $140.76. Financial metrics indicate a debt-to-equity ratio of 0.15, a quick ratio of 3.79, and a current ratio of 4.27. NVIDIA’s fifty-day moving average stands at $118.54, while its two-hundred-day moving average is $110.74. The company's market capitalization is impressive at $3.31 trillion, with a P/E ratio of 63.23, a PEG ratio of 1.20, and a beta of 1.67.

Recent Earnings Report

NVIDIA recently released its quarterly earnings data on August 28th. The company reported an earnings per share (EPS) of $0.68 for the quarter, surpassing analysts' expectations of $0.64 by $0.04. NVIDIA achieved a remarkable net margin of 55.04% and a return on equity of 113.50%. The revenue for the quarter was reported at $30.04 billion, which exceeded analyst expectations of $28.74 billion. This represents a substantial growth compared to the same quarter last year, wherein the company earned $0.25 EPS. Analysts project NVIDIA will report an EPS of 2.65 for the current fiscal year.

Stock Repurchase Program Announcement

On the same date as their earnings release, NVIDIA’s board approved a significant stock repurchase program worth $50 billion. This initiative enables the company to repurchase approximately 1.6% of its outstanding shares through open market purchases. Such repurchase programs typically indicate that company leadership believes the stock to be undervalued.

Dividend Details

NVIDIA also announced a recent quarterly dividend, which was distributed on October 3rd to eligible investors. Those on the record as of September 12th received a $0.01 dividend, representing an annualized dividend of $0.04 and a yield of 0.03%. The current dividend payout ratio for NVIDIA stands at 1.88%.

Institutional Investor Activity

Various institutional investors and hedge funds have been adjusting their positions in NVIDIA. For example, Concentric Wealth Management LLC invested in a new position valued at approximately $220,000. Meanwhile, Chilton Investment Co. Inc. increased its holdings by 53.3%, owning 964 shares worth $477,000 after purchasing an additional 335 shares. Brevan Howard Capital Management LP made a remarkable increase in holdings by 640.5%, now owning 22,185 shares valued at $10,986,000. Biltmore Family Office LLC also raised its stake by 3.1%, whereas Barden Capital Management Inc. boosted its holdings by 11.7%. Currently, institutional investors and hedge funds together hold 65.27% of the stock.

Market Analyst Ratings

Several brokerages have recently commented on NVIDIA's stock. DA Davidson maintained a “neutral” rating with a price target of $90.00. Contrastingly, Evercore ISI raised its price target from $145.00 to $150.00 while affirming an “outperform” rating. Sanford C. Bernstein also adjusted its target from $130.00 to $155.00, designating the stock as “outperform.” Loop Capital reiterated a “buy” rating with a price target of $175.00, while Bank of America kept its “buy” rating with a target of $165.00. Overall, the stock is rated as “Moderate Buy” with an average price target of $142.46, according to MarketBeat data.

Overview of NVIDIA

NVIDIA Corporation operates globally, providing a range of graphics, compute, and networking solutions. Its Graphics segment provides GeForce GPUs for gaming and PCs, as well as the GeForce NOW streaming service. Additionally, NVIDIA offers Quadro/NVIDIA RTX GPUs for enterprise graphics, cloud-based visual computing solutions, automotive platforms for infotainment, and software for metaverse applications.

Stevens, Shares, NVIDIA