NVIDIA (NASDAQ:NVDA) Trading Down 2.9% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price traded down 2.9% during mid-day trading on Monday after HSBC lowered their price target on the stock from $195.00 to $185.00. HSBC currently has a buy rating on the stock. NVIDIA traded as low as $129.51 and last traded at $132.02. 94,851,727 shares were traded during trading, a decline of 57% from the average session volume of 223,071,797 shares. The stock had previously closed at $135.91.

A number of other brokerages have also recently issued reports on NVDA. Barclays raised their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Benchmark restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Bank of America restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Four research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.27.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Hoertkorn Richard Charles raised 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 holdings in NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC lifted its position in shares of NVIDIA by 0.5% in 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. Kwmg LLC boosted its stake in shares of NVIDIA by 0.6% in the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares during the last quarter. Finally, Total Wealth Planning LLC increased its position in shares of NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.23 trillion, a P/E ratio of 51.85, a P/E/G ratio of 2.43 and a beta of 1.64. The business’s 50 day moving average is $139.68 and its two-hundred day moving average is $128.82.

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 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 company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

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.