NVIDIA (NASDAQ:NVDA) Stock Price Down 0.6% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) traded down 0.6% during trading on Tuesday . The company traded as low as $141.78 and last traded at $142.89. 95,011,248 shares were traded during trading, a decline of 77% from the average session volume of 416,302,813 shares. The stock had previously closed at $143.71.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday, August 6th. Finally, Citigroup increased their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Down 2.8 %

The business has a 50-day moving average of $123.56 and a 200-day moving average of $113.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 65.46, a P/E/G ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. On average, sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

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

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction 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 stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $113.04, for a total value of $13,564,800.00. Following the completion of the sale, the chief executive officer now directly owns 77,334,995 shares in the company, valued at $8,741,947,834.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,756,270 shares of company stock valued at $318,992,727 in the last three months. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the 1st quarter valued at $27,000. 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.