NVIDIA (NASDAQ:NVDA) Stock Price Down 3.4% on Analyst Downgrade

by · The Cerbat Gem

NVIDIA Co. (NASDAQ:NVDA – Get Free Report)’s stock price dropped 3.4% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $162.00 to $160.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $107.86 and last traded at $107.28. Approximately 69,627,215 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 303,736,419 shares. The stock had previously closed at $111.01.

Several other equities research analysts also recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating on shares of NVIDIA in a report on Friday. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Mizuho lowered their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.96.

Read Our Latest Analysis on NVDA

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 over the last quarter. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SOA Wealth Advisors LLC. grew its position in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB lifted its stake in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in NVIDIA by 13.2% during the third quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker’s stock worth $667,278,000 after buying an additional 640,840 shares in the last quarter. Principal Financial Group Inc. grew its position in NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock worth $4,326,576,000 after buying an additional 1,285,897 shares during the last quarter. Finally, Meridian Management Co. increased its holdings in shares of NVIDIA by 8.0% in the third quarter. Meridian Management Co. now owns 5,624 shares of the computer hardware maker’s stock valued at $683,000 after buying an additional 419 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

The company has a market cap of $2.60 trillion, a P/E ratio of 42.06, 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 company has a fifty day simple moving average of $113.21 and a 200-day simple moving average of $128.95.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (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 analyst estimates of $38.16 billion. On average, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

About NVIDIA

(Get Free Report)

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.

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