NVIDIA (NASDAQ:NVDA) Trading Down 4.7% – Here’s Why

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 4.7% on Tuesday . The stock traded as low as $140.44 and last traded at $142.42. Approximately 163,802,823 shares traded hands during trading, a decline of 20% from the average daily volume of 203,920,344 shares. The stock had previously closed at $149.43.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research note on Wednesday. Stifel Nicolaus raised their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI upped their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

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 price is $139.74 and its two-hundred day moving average price is $128.46. The firm has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lantz Financial LLC raised its position in NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares during the last quarter. Ironwood Wealth Management LLC. grew its holdings in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the last quarter. Xcel Wealth Management LLC increased its position in NVIDIA by 885.9% in the 2nd quarter. Xcel Wealth Management LLC now owns 90,917 shares of the computer hardware maker’s stock valued at $11,232,000 after acquiring an additional 81,695 shares in the last quarter. Burns J W & Co. Inc. NY lifted its position in shares of NVIDIA by 1,050.2% during the second quarter. Burns J W & Co. Inc. NY now owns 106,044 shares of the computer hardware maker’s stock worth $13,101,000 after purchasing an additional 96,824 shares in the last quarter. Finally, Eads & Heald Wealth Management grew its stake in shares of NVIDIA by 873.2% during the second quarter. Eads & Heald Wealth Management now owns 59,864 shares of the computer hardware maker’s stock valued at $7,396,000 after purchasing an additional 53,713 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.