NVIDIA (NASDAQ:NVDA) Shares Down 1.3% - What's Next?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price dropped 1.3% on Monday . The stock traded as low as $143.57 and last traded at $145.68. Approximately 72,536,508 shares traded hands during trading, a decline of 82% from the average daily volume of 402,586,031 shares. The stock had previously closed at $147.63.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVDA shares. Morgan Stanley raised their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday. Truist Financial lifted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, August 27th. Robert W. Baird increased their price target on NVIDIA from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Wedbush reaffirmed an "outperform" rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Benchmark reissued a "buy" rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $144.78.

NVIDIA Price Performance

The firm has a market cap of $3.55 trillion, a P/E ratio of 68.27, a PEG ratio of 1.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company's 50-day moving average is $127.27 and its two-hundred day moving average is $118.46.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm's quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company's stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company's stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hamilton Wealth LLC grew its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker's stock valued at $2,839,000 after buying an additional 9 shares during the last quarter. Curran Financial Partners LLC increased its holdings in NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker's stock valued at $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC boosted its stake in shares of NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker's stock worth $428,000 after acquiring an additional 12 shares during the last quarter. Poehling Capital Management INC. increased its stake in shares of NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker's stock worth $1,442,000 after purchasing an additional 14 shares in the last quarter. Finally, FSA Wealth Management LLC raised its holdings in NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker's stock worth $439,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds 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.

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