Traders Sell Shares of Nvidia Corp. (NVDA) on Strength (NVDA)
Investors sold shares of Nvidia Corp. (NASDAQ:NVDA) on strength during trading on Thursday. $141.49 million flowed into the stock on the tick-up and $166.15 million flowed out of the stock on the tick-down, for a money net flow of $24.66 million out of the stock. Of all equities tracked, Nvidia Corp. had the 0th highest net out-flow for the day. Nvidia Corp. traded up $1.19 for the day and closed at $59.70
A number of equities analysts recently issued reports on NVDA shares. Vetr upgraded shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $36.96 price target on the stock in a research note on Monday, May 2nd. B. Riley reissued a “buy” rating and issued a $44.00 target price on shares of Nvidia Corp. in a research report on Monday, May 9th. Bank of America Corp. reissued a “buy” rating and issued a $43.00 target price on shares of Nvidia Corp. in a research report on Monday, May 9th. Zacks Investment Research lowered Nvidia Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Royal Bank Of Canada boosted their target price on Nvidia Corp. from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.05.
The stock has a market capitalization of $33.66 billion and a PE ratio of 41.42. The company has a 50 day moving average price of $53.40 and a 200-day moving average price of $40.70.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. During the same quarter in the prior year, the firm earned $0.34 EPS. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, analysts expect that Nvidia Corp. will post $1.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, August 25th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, August 23rd.
In other news, CAO David M. Shannon sold 271,049 shares of Nvidia Corp. stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $42.07, for a total transaction of $11,403,031.43. Following the sale, the chief accounting officer now directly owns 444,329 shares of the company’s stock, valued at $18,692,921.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jen Hsun Huang sold 40,000 shares of Nvidia Corp. stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $58.66, for a total value of $2,346,400.00. Following the sale, the insider now directly owns 1,817,279 shares in the company, valued at $106,601,586.14. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in NVDA. Suntrust Banks Inc. raised its stake in shares of Nvidia Corp. by 67.2% in the fourth quarter. Suntrust Banks Inc. now owns 76,155 shares of the computer hardware maker’s stock worth $2,508,000 after buying an additional 30,615 shares during the last quarter. KBC Group NV raised its stake in shares of Nvidia Corp. by 33.2% in the fourth quarter. KBC Group NV now owns 523,163 shares of the computer hardware maker’s stock worth $17,243,000 after buying an additional 130,422 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Nvidia Corp. by 353.2% in the fourth quarter. Victory Capital Management Inc. now owns 98,515 shares of the computer hardware maker’s stock worth $3,247,000 after buying an additional 76,779 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of Nvidia Corp. by 24.2% in the fourth quarter. Employees Retirement System of Texas now owns 44,700 shares of the computer hardware maker’s stock worth $1,473,000 after buying an additional 8,700 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Nvidia Corp. by 1.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,393 shares of the computer hardware maker’s stock worth $1,101,000 after buying an additional 494 shares during the last quarter.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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