NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price dropped 1% on Friday . The stock traded as low as $146.26 and last traded at $147.38. Approximately 69,488,867 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 403,617,688 shares. The stock had previously closed at $148.88.
Analyst Ratings Changes
NVDA has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. Piper Sandler restated an "overweight" rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Loop Capital restated a "buy" rating and set a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. UBS Group restated a "buy" rating and set a $150.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $143.07.
Get Our Latest Stock Analysis on NVDA
NVIDIA Trading Down 1.3 %
The stock has a market capitalization of $3.61 trillion, a P/E ratio of 69.19, a PEG ratio of 1.43 and a beta of 1.66. The stock's fifty day moving average price is $126.08 and its 200 day moving average price is $117.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. NVIDIA's quarterly revenue was up 122.4% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current year.
NVIDIA Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA's dividend payout ratio (DPR) is 1.88%.
NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Insider Buying and Selling
In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company's stock, valued at approximately $8,459,373,085.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company's stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Corporate insiders own 4.23% of the company's stock.
Hedge Funds Weigh In On NVIDIA
Several hedge funds have recently modified their holdings of the stock. Privium Fund Management UK Ltd acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $2,635,000. Lifestyle Asset Management Inc. raised its position in shares of NVIDIA by 246.9% in the first quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker's stock worth $1,812,000 after acquiring an additional 1,427 shares during the period. OMNI 360 Wealth Inc. boosted its stake in shares of NVIDIA by 6.0% during the 1st quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker's stock worth $464,000 after acquiring an additional 29 shares in the last quarter. JTC Employer Solutions Trustee Ltd grew its position in shares of NVIDIA by 1.0% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker's stock valued at $13,453,000 after acquiring an additional 150 shares during the period. Finally, Trust Co. of Oklahoma raised its holdings in NVIDIA by 2.7% in the 1st quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker's stock worth $998,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Company Profile
(
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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.
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