NVIDIA (NASDAQ:NVDA) Shares Down 2.9% – What’s Next?

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 2.9% during trading on Thursday . The company traded as low as $125.28 and last traded at $127.51. Approximately 161,288,782 shares changed hands during trading, a decline of 39% from the average daily volume of 263,774,719 shares. The stock had previously closed at $131.28.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Monday, February 24th. Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. UBS Group boosted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Bank of America raised their price target on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.62.

NVIDIA Trading Up 3.9 %

The company’s 50-day moving average price is $134.19 and its 200-day moving average price is $131.92. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.05 trillion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock valued at $146,405,286 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth approximately $27,000. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter valued at $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter worth $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter worth $34,000. Finally, West Financial Advisors LLC purchased a new position in NVIDIA during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.