NVIDIA (NASDAQ:NVDA) Shares Down 2.9% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA)’s stock price fell 2.9% during mid-day trading on Friday . The stock traded as low as $134.71 and last traded at $135.90. 61,389,203 shares were traded during mid-day trading, a decline of 84% from the average session volume of 378,625,875 shares. The stock had previously closed at $139.93.

Analysts Set New Price Targets

Several research analysts have commented on NVDA shares. Mizuho raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Melius Research boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Barclays upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

The company has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 53.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The firm has a fifty day simple moving average of $139.97 and a 200 day simple moving average of $127.95. 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 announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. On average, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,351,886 shares of company stock worth $176,825,650 over the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Large investors have recently made changes to their positions in the company. Hoertkorn Richard Charles grew its position in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC raised its position in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its stake in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Total Wealth Planning LLC increased its stake in NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares during the period. Finally, Boyd Watterson Asset Management LLC OH raised its holdings in shares of NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the last quarter. 65.27% of the stock is 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.