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NVIDIA (NASDAQ:NVDA) Stock Price Down 1.9% - Should You Sell?

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NVIDIA Co. (NASDAQ:NVDA - Get Free Report) dropped 1.9% during trading on Thursday . The company traded as low as $140.70 and last traded at $143.08. Approximately 179,814,828 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 396,672,844 shares. The stock had previously closed at $145.89.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. Stifel Nicolaus raised their target price on NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday. Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an "outperform" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research note on Thursday. HSBC increased their target price on shares of NVIDIA from $145.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, New Street Research upgraded shares of NVIDIA from a "neutral" rating to a "buy" rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $160.82.

Check Out Our Latest Report on NVDA

NVIDIA Trading Up 0.2 %

The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.59 trillion, a price-to-earnings ratio of 67.60, a PEG ratio of 1.54 and a beta of 1.66. The company has a fifty day moving average price of $133.00 and a 200-day moving average price of $121.54.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business's quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.88%.

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 8,100,117 shares of the company's stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last three months. Company insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. increased its position in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock worth $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. increased its position in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker's stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. increased its position in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock worth $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Legal & General Group Plc increased its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd increased its position in NVIDIA by 1,106.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker's stock worth $65,758,000 after purchasing an additional 488,148 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

About NVIDIA

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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