NVIDIA (NASDAQ:NVDA) Stock Price Down 0.8% – Here’s What Happened

NVIDIA Co. (NASDAQ:NVDA) dropped 0.8% on Thursday . The stock traded as low as $137.73 and last traded at $139.04. Approximately 44,588,053 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 379,624,219 shares. The stock had previously closed at $140.22.

Analyst Ratings Changes

A number of brokerages have commented on NVDA. Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Craig Hallum raised their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 0.0 %

The stock has a 50-day moving average price of $139.93 and a 200-day moving average price of $127.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock valued at $181,666,050 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. SMART Wealth LLC boosted its holdings in shares of NVIDIA by 24.6% in the 3rd quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock worth $2,254,000 after purchasing an additional 3,670 shares in the last quarter. Brass Tax Wealth Management Inc. grew its position in NVIDIA by 53.0% during the third quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock valued at $346,000 after acquiring an additional 985 shares during the last quarter. Legacy Wealth Management LLC MS raised its stake in shares of NVIDIA by 60.5% during the third quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock worth $5,193,000 after acquiring an additional 16,115 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its holdings in shares of NVIDIA by 3.7% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock worth $15,552,000 after acquiring an additional 4,523 shares during the last quarter. Finally, Alternative Investment Advisors LLC. boosted its stake in shares of NVIDIA by 15.0% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock valued at $2,377,000 after purchasing an additional 2,547 shares in the last quarter. Hedge funds and other 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.