NVIDIA (NASDAQ:NVDA) Stock Price Down 0.6% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA) shares fell 0.6% during trading on Wednesday . The stock traded as low as $114.64 and last traded at $115.34. 91,326,977 shares were traded during mid-day trading, a decline of 67% from the average session volume of 276,130,750 shares. The stock had previously closed at $115.99.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent research reports. DA Davidson reiterated a “neutral” rating and issued a $135.00 price target on shares of NVIDIA in a report on Thursday, February 27th. UBS Group boosted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Finally, Citigroup lifted their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.62.

NVIDIA Stock Performance

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.84 trillion, a PE ratio of 45.83, a P/E/G ratio of 1.76 and a beta of 1.62. The business has a fifty day moving average of $133.19 and a 200-day moving average of $132.00.

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

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, 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. Insiders have sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter worth about $43,515,504,000. International Assets Investment Management LLC increased its holdings in NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after acquiring an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in NVIDIA during the 3rd quarter worth approximately $4,589,905,000. Northern Trust Corp lifted its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.