Traders Sell Shares of NVIDIA (NVDA) on Strength (NVDA)
Traders sold shares of NVIDIA Co. (NASDAQ:NVDA) on strength during trading hours on Friday. $698.51 million flowed into the stock on the tick-up and $803.69 million flowed out of the stock on the tick-down, for a money net flow of $105.18 million out of the stock. Of all stocks tracked, NVIDIA had the 5th highest net out-flow for the day. NVIDIA traded up $5.09 for the day and closed at $276.43
Several research firms have weighed in on NVDA. BidaskClub cut NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Needham & Company LLC raised their price target on NVIDIA from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday. FBN Securities initiated coverage on NVIDIA in a research report on Tuesday, June 26th. They issued an “outperform” rating and a $300.00 price target on the stock. Benchmark initiated coverage on NVIDIA in a research report on Tuesday, June 26th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, Zacks Investment Research cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. NVIDIA has an average rating of “Buy” and an average price target of $282.34.
The company has a market cap of $163.07 billion, a P/E ratio of 58.84, a PEG ratio of 3.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Thursday, August 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Wednesday, August 29th. NVIDIA’s dividend payout ratio is currently 12.85%.
In related news, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total value of $24,211,000.00. Following the transaction, the director now directly owns 31,725 shares of the company’s stock, valued at $7,680,939.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 889 shares of NVIDIA stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total value of $229,041.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,932 shares of company stock worth $24,452,088. 4.70% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Kwmg LLC acquired a new position in shares of NVIDIA in the second quarter worth approximately $105,000. Legacy Financial Advisors Inc. lifted its stake in shares of NVIDIA by 111.0% in the second 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 period. Bruderman Asset Management LLC bought a new stake in NVIDIA in the first quarter worth approximately $127,000. Almanack Investment Partners LLC. bought a new stake in NVIDIA in the second quarter worth approximately $127,000. Finally, Ropes Wealth Advisors LLC increased its holdings in NVIDIA by 561.8% in the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after purchasing an additional 500 shares in the last quarter. 65.68% of the stock is currently owned by institutional investors.
NVIDIA Company Profile (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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