NVIDIA (NASDAQ:NVDA) Stock Price Down 3.2% – Here’s What Happened

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 3.2% during mid-day trading on Monday . The stock traded as low as $136.22 and last traded at $137.38. Approximately 106,838,375 shares traded hands during trading, a decline of 73% from the average daily volume of 395,668,594 shares. The stock had previously closed at $141.95.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research reports. Needham & Company LLC boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. HSBC upped their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays lifted their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $134.01 and a 200-day moving average of $122.51. The firm has a market capitalization of $3.33 trillion, a P/E ratio of 54.07, a P/E/G ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp raised its holdings in shares of NVIDIA by 10.3% during the 3rd quarter. Synovus Financial Corp now owns 1,215,693 shares of the computer hardware maker’s stock worth $147,635,000 after buying an additional 113,296 shares in the last quarter. Castellan Group grew its position in NVIDIA by 3.9% in the third quarter. Castellan Group now owns 53,843 shares of the computer hardware maker’s stock valued at $6,539,000 after acquiring an additional 2,013 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in NVIDIA by 79.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 432,266 shares of the computer hardware maker’s stock worth $52,494,000 after acquiring an additional 191,771 shares in the last quarter. Arvest Bank Trust Division bought a new position in shares of NVIDIA in the third quarter worth about $3,961,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of NVIDIA by 1,097.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,957,600 shares of the computer hardware maker’s stock valued at $359,171,000 after purchasing an additional 2,710,616 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.