NVIDIA (NASDAQ:NVDA) Trading Down 1.1% - Here's Why

Shares of NVIDIA Co. (NASDAQ:NVDA - Get Free Report) traded down 1.1% during trading on Tuesday . The stock traded as low as $118.92 and last traded at $120.06. 66,655,771 shares were traded during trading, a decline of 76% from the average session volume of 280,654,656 shares. The stock had previously closed at $121.41.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Susquehanna restated a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $171.51.

NVIDIA Stock Performance

The firm has a market capitalization of $2.95 trillion, a P/E ratio of 47.55, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock's 50 day moving average is $126.68 and its two-hundred day moving average is $131.46.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 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 company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling

In other news, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 53,208 shares of the company's stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders sold 179,109 shares of company stock valued at $22,117,015. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. Tacita Capital Inc bought a new stake in NVIDIA during the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter valued at about $34,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $40,000. Finally, DHJJ Financial Advisors Ltd. raised its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock valued at $41,000 after buying an additional 140 shares during the period. 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.

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