Investors Sell NVIDIA (NVDA) on Strength (NVDA)
Investors sold shares of NVIDIA Co. (NASDAQ:NVDA) on strength during trading on Tuesday. $451.34 million flowed into the stock on the tick-up and $502.07 million flowed out of the stock on the tick-down, for a money net flow of $50.73 million out of the stock. Of all companies tracked, NVIDIA had the 23rd highest net out-flow for the day. NVIDIA traded up $3.51 for the day and closed at $188.21
NVDA has been the topic of several analyst reports. Evercore ISI decreased their price target on shares of NVIDIA from $325.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, January 14th. BidaskClub raised shares of NVIDIA from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Piper Jaffray Companies initiated coverage on shares of NVIDIA in a research note on Tuesday, March 26th. They set an “overweight” rating and a $200.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of NVIDIA from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, December 27th. Finally, Craig Hallum initiated coverage on shares of NVIDIA in a research note on Thursday, March 14th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $204.46.
The company has a current ratio of 7.94, a quick ratio of 6.76 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $115.62 billion, a PE ratio of 31.01, a P/E/G ratio of 4.59 and a beta of 1.90.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.64 annualized dividend and a yield of 0.34%. NVIDIA’s payout ratio is 10.54%.
In related news, CFO Colette Kress sold 14,092 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the completion of the transaction, the executive vice president now owns 171,783 shares in the company, valued at approximately $31,779,855. The disclosure for this sale can be found here. Insiders sold 20,029 shares of company stock worth $3,678,385 in the last 90 days. 4.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. TD Capital Management LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $27,000. Swedbank raised its stake in shares of NVIDIA by 50.4% during the fourth quarter. Swedbank now owns 2,547,600 shares of the computer hardware maker’s stock valued at $340,487,000 after purchasing an additional 854,050 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $737,230,000. Girard Partners LTD. raised its stake in shares of NVIDIA by 25.1% during the fourth quarter. Girard Partners LTD. now owns 2,300 shares of the computer hardware maker’s stock valued at $307,000 after purchasing an additional 461 shares during the period. Finally, River Wealth Advisors LLC raised its stake in shares of NVIDIA by 7.4% during the fourth quarter. River Wealth Advisors LLC now owns 2,563 shares of the computer hardware maker’s stock valued at $342,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 69.81% of the company’s stock.
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About NVIDIA (NASDAQ:NVDA)
NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which 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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