NVIDIA (NASDAQ:NVDA) Trading Down 3.5% After Analyst Downgrade

Shares of NVIDIA Co. (NASDAQ:NVDA - Get Free Report) fell 3.5% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $185.00 to $180.00. UBS Group currently has a buy rating on the stock. NVIDIA traded as low as $100.12 and last traded at $100.87. 110,380,104 shares were traded during mid-day trading, a decline of 65% from the average session volume of 312,610,357 shares. The stock had previously closed at $104.49.

NVDA has been the subject of a number of other reports. KeyCorp set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday. Morgan Stanley set a $162.00 price objective on NVIDIA and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Mizuho cut their price objective on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Finally, Barclays increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $165.51.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction 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 transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last ninety days. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the 4th quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the 4th quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 3.0 %

The business has a 50 day moving average price of $116.56 and a 200 day moving average price of $129.78. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is currently 1.36%.

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.