Investors Sell NVIDIA (NVDA) on Strength (NVDA)
Traders sold shares of NVIDIA Co. (NASDAQ:NVDA) on strength during trading hours on Tuesday. $696.28 million flowed into the stock on the tick-up and $783.50 million flowed out of the stock on the tick-down, for a money net flow of $87.22 million out of the stock. Of all companies tracked, NVIDIA had the 5th highest net out-flow for the day. NVIDIA traded up $3.02 for the day and closed at $283.70
NVDA has been the topic of several research reports. UBS Group raised NVIDIA from a “market perform” rating to an “outperform” rating in a research report on Friday, August 17th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $265.00 price target on shares of NVIDIA in a research report on Friday, August 17th. Royal Bank of Canada upped their price target on NVIDIA to $300.00 and gave the company an “outperform” rating in a research report on Friday, May 11th. BidaskClub raised NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Finally, Citigroup upped their price target on NVIDIA from $300.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $281.58.
The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. The stock has a market capitalization of $170.65 billion, a price-to-earnings ratio of 60.68, a price-to-earnings-growth ratio of 3.68 and a beta of 1.62.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Thursday, August 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.21%. NVIDIA’s payout ratio is 12.85%.
In other news, EVP Ajay K. Puri sold 4,643 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $266.54, for a total value of $1,237,545.22. Following the completion of the transaction, the executive vice president now owns 295,635 shares of the company’s stock, valued at $78,798,552.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total value of $24,211,000.00. Following the completion of the transaction, the director now directly owns 31,725 shares of the company’s stock, valued at approximately $7,680,939.75. The disclosure for this sale can be found here. In the last three months, insiders sold 143,572 shares of company stock valued at $35,705,312. Company insiders own 4.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NVDA. FMR LLC grew its stake in shares of NVIDIA by 3.5% in the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock worth $11,512,019,000 after purchasing an additional 1,656,748 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of NVIDIA by 63.7% in the second quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock worth $1,000,199,000 after purchasing an additional 1,643,689 shares in the last quarter. Jennison Associates LLC grew its stake in shares of NVIDIA by 18.8% in the second quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock worth $1,847,847,000 after purchasing an additional 1,234,191 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of NVIDIA by 97.4% in the first quarter. Prudential Financial Inc. now owns 1,711,921 shares of the computer hardware maker’s stock worth $396,464,000 after purchasing an additional 844,514 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of NVIDIA by 24,174.1% in the first quarter. Summit Trail Advisors LLC now owns 756,866 shares of the computer hardware maker’s stock worth $757,000 after purchasing an additional 753,748 shares in the last quarter. 65.68% of the stock is owned by institutional investors.
NVIDIA Company Profile (NASDAQ:NVDA)
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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