NVIDIA (NASDAQ:NVDA) Trading Down 3.6%

Shares of NVIDIA Co. (NASDAQ:NVDA - Get Free Report) fell 3.6% during trading on Friday . The stock traded as low as $102.88 and last traded at $103.40. 124,200,891 shares were traded during trading, a decline of 72% from the average session volume of 441,227,500 shares. The stock had previously closed at $107.21.

Analysts Set New Price Targets

Several research firms have commented on NVDA. Argus increased their price target on shares of NVIDIA from $110.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Mizuho increased their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus price target of $142.10.

NVIDIA Stock Performance

The firm has a market capitalization of $2.53 trillion, a price-to-earnings ratio of 60.47, a P/E/G ratio of 1.24 and a beta of 1.67. The company has a quick ratio of 3.14, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $119.03 and a 200 day moving average price of $104.17.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The business's revenue for the quarter was up 122.4% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.6 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA's dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $120.42, for a total value of $18,063,000.00. Following the completion of the transaction, the director now directly owns 9,846,240 shares of the company's stock, valued at $1,185,684,220.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $120.42, for a total value of $18,063,000.00. Following the completion of the sale, the director now owns 9,846,240 shares in the company, valued at $1,185,684,220.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $107.44, for a total value of $12,892,800.00. Following the completion of the sale, the chief executive officer now owns 76,135,836 shares of the company's stock, valued at approximately $8,180,034,219.84. The disclosure for this sale can be found here. Insiders sold 3,875,633 shares of company stock valued at $472,782,722 over the last three months. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Large investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft grew its holdings in NVIDIA by 34.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker's stock worth $21,896,000 after acquiring an additional 11,445 shares during the period. Wealthspire Advisors LLC grew its holdings in NVIDIA by 16.3% during the fourth quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker's stock worth $6,080,000 after acquiring an additional 1,724 shares during the period. Shared Vision Wealth Group LLC acquired a new position in NVIDIA during the fourth quarter worth $269,000. Grand Alliance Asset Management Ltd acquired a new position in NVIDIA during the fourth quarter worth $29,961,000. Finally, OMNI 360 Wealth Inc. acquired a new position in NVIDIA during the fourth quarter worth $240,000. 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.