NVIDIA (NASDAQ:NVDA) Trading Down 0.6% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA) shares traded down 0.6% on Wednesday . The company traded as low as $106.79 and last traded at $109.47. 59,008,798 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 312,749,638 shares. The stock had previously closed at $110.15.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVDA shares. Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. HSBC reduced their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Price Performance

The business has a fifty day simple moving average of $123.81 and a two-hundred day simple moving average of $131.47. 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 stock has a market cap of $2.71 trillion, a PE ratio of 43.72, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current 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 is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock worth $22,642,615 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tacita Capital Inc acquired a new position in NVIDIA during the fourth quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth $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 purchased a new position in NVIDIA during the fourth quarter worth approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the fourth quarter worth about $46,000. Hedge funds and other institutional investors 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.