NVIDIA (NASDAQ:NVDA) Stock Price Down 4.7% After Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDAGet Free Report)’s share price traded down 4.7% on Wednesday after Morgan Stanley lowered their price target on the stock from $166.00 to $152.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $121.72 and last traded at $122.98. 135,322,529 shares changed hands during trading, a decline of 49% from the average session volume of 267,683,500 shares. The stock had previously closed at $128.99.

Other analysts also recently issued reports about the company. Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $170.00 to $220.00 in a research note on Tuesday. Finally, UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $166.23.

Read Our Latest Analysis on NVDA

Insider Buying and Selling

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

Institutional Trading of NVIDIA

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new position in NVIDIA in the third quarter worth approximately $36,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a fifty day simple moving average of $137.46 and a 200 day simple moving average of $129.40. The company has a market capitalization of $3.06 trillion, a PE ratio of 49.09, a P/E/G ratio of 2.65 and a beta of 1.64.

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

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA Company Profile

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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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