Tench Coxe Sells 1,000,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Tench Coxe also recently made the following trade(s):

• On Thursday, September 19th, Tench Coxe sold 1,000,000 shares of NVIDIA stock. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00.

NVIDIA Trading Down 1.1 %

Shares of NASDAQ:NVDA traded down $1.48 during mid-day trading on Wednesday, hitting $128.91. The company had a trading volume of 273,451,906 shares, compared to its average volume of 383,947,906. The company has a market capitalization of $3.16 trillion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The firm has a fifty day moving average price of $139.79 and a 200 day moving average price of $127.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NVDA shares. Robert W. Baird upped their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Benchmark raised their price target on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four 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 company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Institutional Investors Weigh In On NVIDIA

Large investors have recently modified their holdings of the stock. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth about $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the third quarter worth about $27,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of NVIDIA in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.