NVIDIA (NASDAQ:NVDA) Stock Price Down 1.1% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price dropped 1.1% on Tuesday 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 $131.37 and last traded at $131.79. Approximately 71,176,360 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 217,570,547 shares. The stock had previously closed at $133.23.

Several other brokerages have also recently commented on NVDA. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC raised their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.27.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on 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 directly 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 ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of the business. Clarus Wealth Advisors raised its holdings in shares of NVIDIA by 40.3% during the 4th quarter. Clarus Wealth Advisors now owns 20,060 shares of the computer hardware maker’s stock worth $2,673,000 after buying an additional 5,764 shares in the last quarter. Acropolis Investment Management LLC raised its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Acropolis Investment Management LLC now owns 53,689 shares of the computer hardware maker’s stock worth $7,210,000 after buying an additional 548 shares in the last quarter. Meridian Financial Partners LLC raised its holdings in shares of NVIDIA by 0.4% during the 4th quarter. Meridian Financial Partners LLC now owns 23,674 shares of the computer hardware maker’s stock worth $3,179,000 after buying an additional 87 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of NVIDIA by 135.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231,520 shares of the computer hardware maker’s stock worth $31,091,000 after buying an additional 133,060 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of NVIDIA by 17.2% during the 4th quarter. Park Avenue Securities LLC now owns 858,287 shares of the computer hardware maker’s stock worth $115,259,000 after buying an additional 125,683 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

The company has a market cap of $3.21 trillion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business has a fifty day moving average price of $139.84 and a 200 day moving average price of $128.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed 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 was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

About NVIDIA

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.