NVIDIA (NASDAQ:NVDA) Shares Down 0.6% - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) dropped 0.6% during trading on Wednesday . The stock traded as low as $106.79 and last traded at $109.47. Approximately 59,008,798 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 312,749,638 shares. The stock had previously closed at $110.15.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays lifted 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. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Bank of America reaffirmed a "buy" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Thursday. Finally, DA Davidson dropped their price objective on shares of NVIDIA from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Five analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus price target of $169.89.

NVIDIA Trading Down 5.2 %

The company's 50 day simple moving average is $123.07 and its two-hundred day simple moving average is $131.32. 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 stock has a market cap of $2.55 trillion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

Remove Ads

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

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock valued at $22,642,615 over the last ninety days. Corporate insiders own 4.23% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth approximately $43,515,504,000. Clear Street Derivatives LLC bought a new stake in NVIDIA in the 3rd quarter valued at approximately $4,589,905,000. Northern Trust Corp lifted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC boosted its position in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of NVIDIA during the 4th quarter worth approximately $2,987,733,000. 65.27% of the stock is owned by 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.