NVIDIA (NASDAQ:NVDA) Stock Price Down 0.9% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) shares fell 0.9% on Thursday . The company traded as low as $143.72 and last traded at $145.68. 58,214,355 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 211,463,125 shares. The stock had previously closed at $147.07.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Tuesday, January 7th. Evercore ISI upped their price target on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

The stock has a market capitalization of $3.58 trillion, a P/E ratio of 57.56, a PEG ratio of 2.54 and a beta of 1.64. The stock’s fifty day moving average is $138.70 and its 200-day moving average is $129.34. 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 issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’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 $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after acquiring an additional 11,525,969 shares in the last quarter. Legal & General Group Plc grew its stake in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after purchasing an additional 2,042,348 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during 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.