NVIDIA (NASDAQ:NVDA) Stock Price Down 0.9%

NVIDIA Co. (NASDAQ:NVDA) dropped 0.9% on Wednesday . The stock traded as low as $124.38 and last traded at $124.91. Approximately 116,797,602 shares traded hands during trading, a decline of 76% from the average daily volume of 485,932,188 shares. The stock had previously closed at $126.09.

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho raised their target price on NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Piper Sandler boosted their price objective on NVIDIA from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $85.00 to $100.00 and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Barclays reduced their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Finally, The Goldman Sachs Group upped their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Five 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 company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $123.53.

NVIDIA Trading Down 2.0 %

The stock’s 50-day simple moving average is $103.66 and its 200-day simple moving average is $82.10. The firm has a market capitalization of $3.04 trillion, a PE ratio of 73.05, a P/E/G ratio of 1.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is currently 2.34%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 110,000 shares of NVIDIA stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $90.57, for a total value of $9,962,150.00. Following the completion of the transaction, the director now directly owns 10,748,330 shares of the company’s stock, valued at $973,422,506.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the transaction, the chief financial officer now owns 5,288,862 shares in the company, valued at $671,632,585.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 110,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $90.57, for a total transaction of $9,962,150.00. Following the completion of the sale, the director now directly owns 10,748,330 shares of the company’s stock, valued at approximately $973,422,506.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,636,590 shares of company stock worth $292,708,454 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the 1st quarter valued at $30,000. Norwood Financial Corp bought a new stake in shares of NVIDIA in the first quarter worth about $45,000. Finally, Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.