NVIDIA Director Mark A. Stevens Sells Over $20 Million in Shares

NVIDIA Co. (NASDAQ:NVDA) recently made headlines when Director Mark A. Stevens sold a significant portion of his shares in the company. On October 9th, Stevens sold 155,000 shares at an average price of $132.27, resulting in a total transaction value of $20,501,850. Following this sale, Stevens retains ownership of 8,100,117 shares, which are estimated to be worth around $1,071,402,475.59. This transaction represents a minimal decrease of 0.00% in his ownership stake in NVIDIA.

Market Performance

As of the latest trading session, NVIDIA's stock opened at $134.80. The company's stock has witnessed varying performance over the past year, with a low of $39.23 and a high of $140.76. Currently, NVIDIA holds a market capitalization of $3.31 trillion and has a price-to-earnings (P/E) ratio of 63.23. Analysts noted that the company's fifty-day simple moving average stands at $118.54, while the 200-day simple moving average is at $110.62.

Earnings Report Overview

NVIDIA released its most recent quarterly earnings report on August 28th. The firm reported earnings per share (EPS) of $0.68, which exceeded analysts' expectations of $0.64 by $0.04. Their impressive performance includes a return on equity of 113.50% and a net margin of 55.04%. The total revenue for the quarter amounted to $30.04 billion, surpassing the estimated $28.74 billion. This marks a substantial year-over-year increase from the $0.25 EPS reported during the same quarter in the previous year. Analysts are forecasting an EPS of 2.65 for NVIDIA for the current fiscal year.

Dividend Announcement

Recently, NVIDIA declared a quarterly dividend of $0.01 per share, which was paid out on October 3rd. This dividend represents an annualized amount of $0.04, resulting in a dividend yield of 0.03%. The company's current dividend payout ratio is recorded at 1.88%. This move has prompted discussions about the company's financial strategies moving forward.

Stock Buyback Plan

In addition to the dividend announcement, NVIDIA's board approved a substantial stock buyback program worth $50.00 billion. This program allows the company to repurchase up to 1.6% of its outstanding shares through open market purchases, a clear indication that the company's leadership believes its stock is undervalued.

Analyst Ratings and Opinions

Market analysts have been vocal regarding NVIDIA's stock ratings. Deutsche Bank reiterated a "hold" rating for NVIDIA and set a price objective of $100. Bank of America maintained a "buy" rating, setting a target price of $165. Meanwhile, Raymond James raised their price target from $120 to $140, giving it a "strong-buy" rating. JPMorgan Chase also increased its price objective from $115 to $155. Overall, NVIDIA enjoys an average rating of "Moderate Buy" from analysts, with a mean price target of $142.46.

Institutional Holdings and Investments

NVIDIA has also seen notable changes in its institutional holdings. Various hedge funds and investment advisors have made moves regarding NVIDIA stock recently. For instance, Lowe Wealth Advisors LLC entered a new position during the second quarter. DHJJ Financial Advisors Ltd. raised their stake in NVIDIA by a staggering 1,900.0%. Reports indicate that 65.27% of NVIDIA's stock is currently held by institutional investors and hedge funds, reflecting growing interest in the company.

Company Overview

NVIDIA Corporation specializes in providing graphics and computing solutions across global markets, including the U.S., Taiwan, China, Hong Kong, and more. The company's graphics segment includes offerings like GeForce GPUs for gaming, the GeForce NOW game streaming service, and enterprise solutions such as Quadro/NVIDIA RTX GPUs.

Conclusion

The recent selling of shares by Director Mark A. Stevens, amidst impressive earnings reports and substantial stock buyback programs, has captured the attention of investors and analysts alike. As NVIDIA continues to navigate a rapidly evolving tech landscape, the company's strategic decisions will likely remain in the spotlight.

NVIDIA, Stock, Sale