NVIDIA (NASDAQ:NVDA) Stock Price Down 2.6% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) shares fell 2.6% on Thursday . The stock traded as low as $112.30 and last traded at $114.19. 88,353,273 shares were traded during trading, a decline of 68% from the average session volume of 276,296,656 shares. The stock had previously closed at $117.30.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVDA. TD Cowen boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Evercore ISI raised their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Barclays upped their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Truist Financial raised their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, UBS Group upped their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.62.

NVIDIA Price Performance

The firm has a market cap of $2.70 trillion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock’s fifty day moving average price is $132.73 and its 200-day moving average price is $131.90.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last quarter. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter valued at $27,000. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $34,000. West Financial Advisors LLC purchased a new position in NVIDIA in the 3rd quarter valued at $36,000. Finally, Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $38,000. Hedge funds and other institutional investors 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.