Citigroup Has Lowered Expectations for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Free Report) had its price objective trimmed by Citigroup from $163.00 to $150.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the computer hardware maker's stock.

Several other research analysts also recently weighed in on NVDA. Susquehanna reiterated a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Needham & Company LLC restated a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DA Davidson reduced their target price on shares of NVIDIA from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $168.39.

NVIDIA Stock Up 3.1 %

NVDA stock traded up $3.36 during midday trading on Friday, hitting $110.93. The stock had a trading volume of 312,748,883 shares, compared to its average volume of 314,750,490. The business has a 50-day moving average of $118.95 and a two-hundred day moving average of $130.36. The firm has a market cap of $2.71 trillion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 52-week low of $75.61 and a 52-week high of $195.95.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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 net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, equities research analysts forecast that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA's dividend payout ratio is currently 1.36%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last three months. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in NVIDIA during the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the fourth quarter worth $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the fourth quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.