NVIDIA (NASDAQ:NVDA) Stock Price Down 1.3% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) fell 1.3% during mid-day trading on Monday . The stock traded as low as $137.15 and last traded at $140.13. 85,599,595 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 398,119,688 shares. The stock had previously closed at $141.98.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVDA. Wedbush restated an “outperform” rating and issued a $160.00 price target (up from $138.00) on shares of NVIDIA in a research report on Thursday, November 14th. Sanford C. Bernstein upped their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James upped their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Mizuho increased their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.63.

NVIDIA Price Performance

The business’s fifty day moving average is $132.42 and its 200-day moving average is $121.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $3.61 trillion, a PE ratio of 69.02, a P/E/G ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the company earned $0.25 earnings per share. The company’s revenue was up 122.4% on a year-over-year basis. On average, research analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. The trade was a 0.16 % 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 over the last three months. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC increased its stake in shares of NVIDIA by 18.7% in the third quarter. McIlrath & Eck LLC now owns 20,365 shares of the computer hardware maker’s stock worth $2,473,000 after buying an additional 3,214 shares during the period. Discipline Wealth Solutions LLC purchased a new position in NVIDIA during the 3rd quarter valued at $792,000. M&T Bank Corp increased its position in NVIDIA by 5.1% during the 3rd quarter. M&T Bank Corp now owns 3,858,775 shares of the computer hardware maker’s stock valued at $468,609,000 after purchasing an additional 186,652 shares during the period. Unigestion Holding SA increased its position in NVIDIA by 928.9% during the 3rd quarter. Unigestion Holding SA now owns 67,400 shares of the computer hardware maker’s stock valued at $8,185,000 after purchasing an additional 60,849 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of NVIDIA by 4.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 119,564 shares of the computer hardware maker’s stock worth $14,537,000 after buying an additional 5,568 shares during the period. 65.27% of the stock is currently owned by institutional investors.

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.