NVIDIA (NASDAQ:NVDA) Stock Price Down 4.7% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s share price traded down 4.7% on Wednesday after Morgan Stanley lowered their price target on the stock from $166.00 to $152.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $121.72 and last traded at $122.98. 135,322,529 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 267,683,500 shares. The stock had previously closed at $128.99.

Other research analysts have also issued reports about the company. Stifel Nicolaus increased their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research report on Thursday, November 21st. Oppenheimer reiterated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Needham & Company LLC increased their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Finally, Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $166.23.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company's stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hoertkorn Richard Charles grew its stake in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker's stock valued at $424,000 after buying an additional 70 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its position in shares of NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock valued at $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC lifted its holdings in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Finally, Baker Boyer National Bank boosted 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 worth $323,000 after purchasing an additional 76 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.8 %

The stock has a fifty day simple moving average of $137.46 and a two-hundred day simple moving average of $129.40. The firm has a market cap of $3.06 trillion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

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

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.