NVIDIA (NASDAQ:NVDA) Trading Down 2% Following Analyst Downgrade

Shares of NVIDIA Co. (NASDAQ:NVDA) were down 2% during trading on Monday after Mizuho lowered their price target on the stock from $175.00 to $168.00. Mizuho currently has an outperform rating on the stock. NVIDIA traded as low as $119.37 and last traded at $119.24. Approximately 85,892,256 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 320,524,091 shares. The stock had previously closed at $121.67.

A number of other brokerages have also weighed in on NVDA. Truist Financial raised their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Thursday, February 27th. The Goldman Sachs Group lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. TD Cowen lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, HSBC cut their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tacita Capital Inc purchased a new stake in NVIDIA during the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the fourth quarter valued at $34,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 1.9 %

The firm has a market capitalization of $2.91 trillion, a PE ratio of 47.06, a P/E/G ratio of 1.76 and a beta of 1.77. The firm’s 50 day moving average price is $129.26 and its two-hundred day moving average price is $131.23. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

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.