NVIDIA (NASDAQ:NVDA) Stock Price Down 2.7% – Time to Sell?

NVIDIA Co. (NASDAQ:NVDA)’s share price fell 2.7% on Friday . The company traded as low as $142.46 and last traded at $142.64. 71,765,297 shares changed hands during trading, a decline of 82% from the average session volume of 396,215,688 shares. The stock had previously closed at $146.67.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVDA shares. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday. TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Benchmark upped their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. Wedbush lifted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $134.01 and a two-hundred day moving average of $122.28. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the company. Hamilton Wealth LLC increased its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Poehling Capital Management INC. increased its stake in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the last quarter. FSA Wealth Management LLC lifted its holdings in shares of NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares during the period. Clean Yield Group lifted its holdings in shares of NVIDIA by 0.8% during the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after acquiring an additional 15 shares during the period. Finally, Bell Investment Advisors Inc grew its holdings in NVIDIA by 1.3% in the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock valued at $1,092,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.