NVIDIA (NASDAQ:NVDA) Shares Down 0.1% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) shares fell 0.1% during trading on Thursday . The company traded as low as $138.46 and last traded at $139.45. 73,238,048 shares changed hands during trading, a decline of 82% from the average session volume of 414,659,844 shares. The stock had previously closed at $139.56.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NVDA shares. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Evercore ISI boosted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Up 0.8 %

The firm’s 50-day moving average is $124.25 and its 200 day moving average is $114.06. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,636,270 shares of company stock valued at $305,367,927 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter valued at $27,000. 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.