NVIDIA (NASDAQ:NVDA) Trading Down 4% After Analyst Downgrade

Shares of NVIDIA Co. (NASDAQ:NVDA) fell 4% on Thursday after TD Cowen lowered their price target on the stock from $175.00 to $140.00. TD Cowen currently has a buy rating on the stock. NVIDIA traded as low as $106.94 and last traded at $109.79. 126,599,886 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 314,506,326 shares. The stock had previously closed at $114.33.

Other equities research analysts have also recently issued reports about the stock. Barclays raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, February 20th. DA Davidson decreased their price target on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.01.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last three months. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. FMR LLC raised its stake in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 5.7 %

The company has a market cap of $2.63 trillion, a PE ratio of 42.49, a PEG ratio of 1.76 and a beta of 1.96. 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 business’s fifty day simple moving average is $119.29 and its two-hundred day simple moving average is $130.54.

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

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.