NVIDIA Co. (NASDAQ:NVDA – Get Free Report)’s stock price dropped 2.3% during trading on Wednesday . The company traded as low as $133.83 and last traded at $134.29. 155,183,672 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 377,359,844 shares. The stock had previously closed at $137.49.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Raymond James boosted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Benchmark increased their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, UBS Group lifted their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four investment 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.
NVIDIA Trading Down 2.3 %
The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $139.66 and its 200 day simple moving average is $128.04. The stock has a market cap of $3.29 trillion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.
Insider Activity at NVIDIA
In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,351,886 shares of company stock worth $176,825,650. 4.23% of the stock is owned by insiders.
Institutional Investors Weigh In On NVIDIA
Several large investors have recently modified their holdings of the business. Hoertkorn Richard Charles raised its holdings in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the period. Smart Portfolios LLC increased its position in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC raised its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the period. Total Wealth Planning LLC lifted its position in NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after acquiring an additional 78 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH boosted its stake in NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the period. 65.27% of the stock is currently owned by institutional investors.
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.