NVIDIA (NASDAQ:NVDA) Stock Price Down 0.5%

NVIDIA Co. (NASDAQ:NVDA) shares traded down 0.5% on Wednesday . The company traded as low as $114.61 and last traded at $114.99. 56,297,754 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 435,036,875 shares. The stock had previously closed at $115.59.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVDA. Robert W. Baird lifted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research note on Monday. Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. William Blair started coverage on NVIDIA in a research report on Wednesday. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Down 1.1 %

The stock has a market capitalization of $2.81 trillion, a PE ratio of 67.25, a PEG ratio of 1.06 and a beta of 1.67. The stock’s 50 day moving average price is $116.88 and its 200-day moving average price is $106.63. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the sale, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at approximately $8,460,592,139.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the transaction, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,845,633 shares of company stock worth $465,330,122. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Vanguard Group Inc. grew its stake in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Legal & General Group Plc grew its position in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.