NVIDIA (NASDAQ:NVDA) Shares Down 2.3% – Time to Sell?

Shares of NVIDIA Co. (NASDAQ:NVDA) were down 2.3% during trading on Wednesday . The company traded as low as $133.83 and last traded at $134.29. Approximately 155,183,672 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 377,359,844 shares. The stock had previously closed at $137.49.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI boosted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Benchmark boosted their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Four equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

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 firm has a market capitalization of $3.39 trillion, a PE ratio of 54.43, a P/E/G ratio of 2.43 and a beta of 1.63. The business’s 50 day moving average is $139.51 and its two-hundred day moving average is $128.16.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The stock was 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 in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,226,886 shares of company stock worth $161,499,400 over the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lantz Financial LLC increased its stake in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of NVIDIA by 952.7% during the 2nd quarter. Meridian Financial Partners LLC now owns 21,864 shares of the computer hardware maker’s stock valued at $2,648,000 after purchasing an additional 19,787 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of NVIDIA by 55,645.8% during the 2nd quarter. Boston Trust Walden Corp now owns 466,035 shares of the computer hardware maker’s stock valued at $57,574,000 after purchasing an additional 465,199 shares in the last quarter. Bellecapital International Ltd. increased its position in shares of NVIDIA by 875.3% during the second quarter. Bellecapital International Ltd. now owns 37,470 shares of the computer hardware maker’s stock valued at $4,629,000 after buying an additional 33,628 shares during the period. Finally, Oakworth Capital Inc. raised its stake in NVIDIA by 932.8% in the second quarter. Oakworth Capital Inc. now owns 75,578 shares of the computer hardware maker’s stock worth $9,337,000 after buying an additional 68,260 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.