NVIDIA (NASDAQ:NVDA) Shares Down 3.4% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) shares traded down 3.4% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $162.00 to $160.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $107.86 and last traded at $107.28. 69,627,215 shares traded hands during trading, a decline of 77% from the average session volume of 303,736,419 shares. The stock had previously closed at $111.01.

NVDA has been the topic of several other reports. Piper Sandler reaffirmed an "overweight" rating on shares of NVIDIA in a research report on Friday. Citigroup reaffirmed a "buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. William Blair restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Barclays dropped their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $164.96.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 in the last quarter. Company insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. grew its stake in shares of NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 71 shares in the last quarter. Palisade Asset Management LLC grew its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after purchasing an additional 75 shares in the last quarter. Baker Boyer National Bank increased its stake in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after buying an additional 76 shares during the last quarter. Kwmg LLC lifted its position in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock worth $1,755,000 after buying an additional 77 shares in the last quarter. Finally, SC&H Financial Advisors Inc. boosted its stake in shares of NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after buying an additional 80 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a fifty day moving average price of $113.21 and a two-hundred day moving average price of $128.95. The company has a market cap of $2.60 trillion, a P/E ratio of 42.06, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

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.

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