NVIDIA (NASDAQ:NVDA) Trading Down 1.1% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s share price traded down 1.1% during trading on Wednesday . The company traded as low as $142.73 and last traded at $145.45. 86,532,042 shares traded hands during trading, a decline of 78% from the average session volume of 396,593,906 shares. The stock had previously closed at $147.01.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. HSBC boosted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark increased their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James boosted their price target 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. Mizuho upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday. Five analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.82.

NVIDIA Stock Up 0.6 %

The firm’s fifty day moving average is $133.55 and its 200-day moving average is $121.72. The stock has a market capitalization of $3.60 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm 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 posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of large investors have recently made changes to their positions in the stock. Fulcrum Equity Management raised its holdings in NVIDIA by 20.4% in the 3rd quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker’s stock valued at $1,453,000 after acquiring an additional 2,031 shares during the last quarter. Tudor Financial Inc. acquired a new position in shares of NVIDIA in the 3rd quarter valued at $1,440,000. Wealthquest Corp increased its holdings in shares of NVIDIA by 2.4% during the 3rd quarter. Wealthquest Corp now owns 18,037 shares of the computer hardware maker’s stock worth $2,110,000 after buying an additional 417 shares during the last quarter. SkyView Investment Advisors LLC grew its position in NVIDIA by 0.5% during the third quarter. SkyView Investment Advisors LLC now owns 130,903 shares of the computer hardware maker’s stock valued at $15,897,000 after acquiring an additional 634 shares during the period. Finally, Tri Ri Asset Management Corp acquired a new stake in NVIDIA during the third quarter worth about $1,245,000. Institutional investors and hedge funds 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.