NVIDIA (NASDAQ:NVDA) Trading Down 6.8% – Time to Sell?

Shares of NVIDIA Co. (NASDAQ:NVDA) traded down 6.8% on Thursday . The stock traded as low as $102.51 and last traded at $102.86. 125,719,260 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 312,219,737 shares. The stock had previously closed at $110.42.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. DA Davidson lowered their price target on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.89.

NVIDIA Stock Down 7.8 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a fifty day simple moving average of $123.07 and a 200-day simple moving average of $131.32. The company has a market capitalization of $2.48 trillion, a PE ratio of 40.08, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA 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 directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock worth $22,642,615 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Versant Capital Management Inc lifted its stake in shares of NVIDIA by 116.0% in the first quarter. Versant Capital Management Inc now owns 60,279 shares of the computer hardware maker’s stock valued at $6,533,000 after buying an additional 32,374 shares during the period. Boston Common Asset Management LLC grew its holdings in shares of NVIDIA by 11.5% during the 1st quarter. Boston Common Asset Management LLC now owns 367,869 shares of the computer hardware maker’s stock worth $39,870,000 after purchasing an additional 38,003 shares in the last quarter. Adirondack Trust Co. increased its position in shares of NVIDIA by 5.5% during the first quarter. Adirondack Trust Co. now owns 90,506 shares of the computer hardware maker’s stock valued at $9,809,000 after purchasing an additional 4,728 shares during the period. First Citizens Financial Corp raised its stake in shares of NVIDIA by 7.3% in the first quarter. First Citizens Financial Corp now owns 7,072 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 482 shares in the last quarter. Finally, Insight Wealth Strategies LLC lifted its position in NVIDIA by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 33,728 shares of the computer hardware maker’s stock worth $3,655,000 after purchasing an additional 126 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.