NVIDIA Co. (NASDAQ:NVDA) Director John Dabiri Sells 283 Shares

Posted by Defense World Staff on Jun 28th, 2023

NVIDIA Co. (NASDAQ:NVDA – Get Rating) Director John Dabiri sold 283 shares of NVIDIA stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $424.53, for a total value of $120,141.99. Following the completion of the transaction, the director now directly owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

John Dabiri also recently made the following trade(s):

On Thursday, June 1st, John Dabiri sold 383 shares of NVIDIA stock. The shares were sold at an average price of $384.89, for a total transaction of $147,412.87.

NVIDIA Stock Performance

NVDA stock opened at $418.76 on Wednesday. The stock’s 50 day simple moving average is $343.47 and its 200 day simple moving average is $258.89. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $439.90. The stock has a market capitalization of $1.03 trillion, a PE ratio of 218.11, a price-to-earnings-growth ratio of 2.91 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s quarterly revenue was down 13.2% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Wednesday, June 7th. NVIDIA’s payout ratio is presently 8.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVDA. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC increased its position in NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in NVIDIA by 178,831.3% in the first quarter. Proficio Capital Partners LLC now owns 12,179,851 shares of the computer hardware maker’s stock valued at $12,235,000 after acquiring an additional 12,173,044 shares during the period. GQG Partners LLC purchased a new position in NVIDIA in the first quarter worth about $2,290,856,000. Finally, Jennison Associates LLC grew its stake in shares of NVIDIA by 34.8% during the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after purchasing an additional 6,013,647 shares during the period. 64.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. StockNews.com began coverage on shares of NVIDIA in a report on Thursday, May 18th. They set a “hold” rating for the company. UBS Group lifted their price objective on NVIDIA from $315.00 to $475.00 in a research report on Thursday, May 25th. Piper Sandler upped their target price on NVIDIA from $300.00 to $440.00 in a report on Thursday, May 25th. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $290.00 to $490.00 in a report on Thursday, May 25th. Finally, Truist Financial upped their price objective on shares of NVIDIA from $322.00 to $470.00 in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $383.19.

About NVIDIA

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.