Traders Sell Shares of NVIDIA (NVDA) on Strength (NVDA)

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Investors 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 equities tracked, NVIDIA had the 0th highest net out-flow for the day. NVIDIA traded up $3.02 for the day and closed at $283.70

Several brokerages have recently issued reports on NVDA. BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of NVIDIA in a research note on Friday, August 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $265.00 price target on shares of NVIDIA in a research note on Friday, August 17th. Cowen decreased their price target on shares of NVIDIA from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, August 17th. Finally, Oppenheimer upgraded shares of NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 price target for the company in a research note on Friday, August 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $281.58.

The stock has a market cap of $170.65 billion, a P/E ratio of 59.25, a price-to-earnings-growth ratio of 3.68 and a beta of 1.62. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.28. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The business’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. analysts forecast that NVIDIA Co. will post 7.15 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Thursday, August 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.22%. NVIDIA’s dividend payout ratio (DPR) is currently 12.85%.

In other news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $257.64, for a total transaction of $229,041.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the transaction, the director now owns 31,725 shares of the company’s stock, valued at $7,680,939.75. The disclosure for this sale can be found here. Insiders have sold a total of 143,615 shares of company stock valued at $35,717,358 over the last 90 days. Company insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adirondack Trust Co. lifted its holdings in shares of NVIDIA by 146.1% during the 1st quarter. Adirondack Trust Co. now owns 443 shares of the computer hardware maker’s stock worth $100,000 after acquiring an additional 263 shares during the last quarter. Kwmg LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth $105,000. Legacy Financial Advisors Inc. lifted its holdings in shares of NVIDIA by 111.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 233 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of NVIDIA during the 1st quarter worth $127,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of NVIDIA during the 2nd quarter worth $127,000. Hedge funds and other institutional investors own 65.69% of the company’s stock.

About NVIDIA (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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