NVIDIA (NASDAQ:NVDA) Trading Down 0.6% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 0.6% during mid-day trading on Wednesday . The company traded as low as $114.64 and last traded at $115.34. Approximately 91,326,977 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 276,130,750 shares. The stock had previously closed at $115.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NVDA shares. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, February 27th. Finally, Citigroup raised their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.62.

NVIDIA Stock Up 0.4 %

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 stock has a market cap of $2.84 trillion, a P/E ratio of 45.83, a P/E/G ratio of 1.76 and a beta of 1.62. The company’s 50 day moving average price is $133.19 and its two-hundred day moving average price is $132.00.

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

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was 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 owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter worth approximately $27,000. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter worth $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the fourth quarter worth $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $38,000. Finally, West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the 3rd quarter worth $36,000. 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.