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

NVIDIA Co. (NASDAQ:NVDA) shares fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $106.79 and last traded at $109.47. 59,008,798 shares were traded during 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 equities research analysts have weighed in on the company. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. KeyCorp set a $190.00 price target on NVIDIA in a report on Wednesday, March 19th. Finally, Truist Financial lifted their price target on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Up 0.8 %

The company has a market cap of $2.71 trillion, a P/E ratio of 43.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a 50 day moving average of $123.81 and a 200-day moving average of $131.47.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (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 net margin of 55.69% and a return on equity of 114.83%. On average, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 dividend yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was 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 183,609 shares of company stock worth $22,642,615 over the last 90 days. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently modified their holdings of NVDA. AMF Tjanstepension AB raised its position in NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after buying an additional 169,445 shares during the last quarter. Wealth Group Ltd. raised its position in shares of NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after buying an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB grew its holdings in NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after buying an additional 1,868,358 shares in the last quarter. Finally, YHB Investment Advisors Inc. grew its holdings in shares of NVIDIA by 0.9% in the third quarter. YHB Investment Advisors Inc. now owns 229,781 shares of the computer hardware maker’s stock valued at $27,905,000 after purchasing an additional 1,944 shares during the period. 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.