NVIDIA (NASDAQ:NVDA) Stock Price Down 2.9% Following Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded down 2.9% during mid-day trading on Monday after HSBC lowered their price target on the stock from $195.00 to $185.00. HSBC currently has a buy rating on the stock. NVIDIA traded as low as $129.51 and last traded at $132.02. 94,851,727 shares were traded during mid-day trading, a decline of 57% from the average session volume of 223,071,797 shares. The stock had previously closed at $135.91.

Several other brokerages have also recently commented on NVDA. Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.27.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Hoertkorn Richard Charles lifted its holdings in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC boosted its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC boosted its holdings in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares in the last quarter. Kwmg LLC grew its position in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock worth $1,755,000 after acquiring an additional 77 shares during the last quarter. Finally, Total Wealth Planning LLC raised its position in NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 1.1 %

The business has a 50 day simple moving average of $139.68 and a 200 day simple moving average of $128.82. 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 market cap of $3.23 trillion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

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.