NVIDIA (NASDAQ:NVDA) Trading Down 2.7% - What's Next?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price fell 2.7% on Tuesday . The company traded as low as $126.86 and last traded at $128.47. 98,407,969 shares were traded during trading, a decline of 74% from the average session volume of 383,679,750 shares. The stock had previously closed at $132.00.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent analyst reports. Wedbush boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Susquehanna boosted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research note on Thursday, November 21st. Morgan Stanley boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Finally, Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $164.15.

NVIDIA Stock Down 1.2 %

The firm has a market capitalization of $3.19 trillion, a PE ratio of 51.31, a PEG ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $139.79 and a 200 day simple moving average of $127.07.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The firm's revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA's payout ratio is presently 1.57%.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company's stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company's stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker's stock worth $25,000 after buying an additional 190 shares during the last quarter. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $26,000. Quest Partners LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter worth $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in NVIDIA during the second quarter valued at $31,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.