NVIDIA (NASDAQ:NVDA) Shares Down 1.5% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price was down 1.5% during mid-day trading on Friday after DA Davidson lowered their price target on the stock from $135.00 to $125.00. DA Davidson currently has a neutral rating on the stock. NVIDIA traded as low as $115.42 and last traded at $116.72. Approximately 84,699,701 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 316,192,305 shares. The stock had previously closed at $118.53.

Other research analysts have also recently issued reports about the company. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.51.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,449 shares of company stock valued at $11,960,727. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Fairtree Asset Management Pty Ltd purchased a new position in NVIDIA in the fourth quarter worth $639,000. M1 Capital Management LLC purchased a new position in NVIDIA in the fourth quarter worth $1,514,000. DSG Capital Advisors LLC bought a new position in shares of NVIDIA during the fourth quarter valued at about $17,052,000. Chancellor Financial Group WB LP bought a new position in NVIDIA during the 4th quarter worth approximately $3,966,000. Finally, Triton Wealth Management PLLC boosted its stake in shares of NVIDIA by 4.6% during the fourth quarter. Triton Wealth Management PLLC now owns 51,074 shares of the computer hardware maker’s stock valued at $7,469,000 after purchasing an additional 2,259 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

The stock has a market cap of $2.84 trillion, a P/E ratio of 45.86, a PEG ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $127.28 and its 200-day moving average price is $131.03.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.36%.

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.