NVIDIA (NASDAQ:NVDA) Shares Down 2.6% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA)’s stock price dropped 2.6% during trading on Tuesday . The company traded as low as $110.11 and last traded at $111.04. Approximately 149,593,342 shares traded hands during trading, a decline of 45% from the average daily volume of 274,408,438 shares. The stock had previously closed at $114.06.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday. Evercore ISI raised 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. UBS Group raised their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Finally, Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.62.

NVIDIA Trading Up 1.7 %

The company’s 50 day simple moving average is $133.68 and its 200 day simple moving average is $132.06. The firm has a market cap of $2.83 trillion, a price-to-earnings ratio of 45.64, a P/E/G ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock worth $146,405,286 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dogwood Wealth Management LLC lifted its position in NVIDIA by 11.9% in the fourth quarter. Dogwood Wealth Management LLC now owns 14,082 shares of the computer hardware maker’s stock valued at $1,891,000 after acquiring an additional 1,501 shares during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in NVIDIA by 9.9% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 14,097 shares of the computer hardware maker’s stock valued at $1,893,000 after acquiring an additional 1,275 shares during the last quarter. Audent Global Asset Management LLC lifted its position in NVIDIA by 160.4% in the fourth quarter. Audent Global Asset Management LLC now owns 120,322 shares of the computer hardware maker’s stock valued at $16,158,000 after acquiring an additional 74,112 shares during the last quarter. Siemens Fonds Invest GmbH lifted its position in NVIDIA by 1.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 613,028 shares of the computer hardware maker’s stock valued at $84,212,000 after acquiring an additional 9,913 shares during the last quarter. Finally, BridgePort Financial Solutions LLC purchased a new stake in NVIDIA in the fourth quarter valued at $2,496,000. 65.27% of the stock is owned by hedge funds and other 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.