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

Shares of NVIDIA Co. (NASDAQ:NVDAGet Free Report) 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 changed hands during trading, a decline of 57% from the average session volume of 223,071,797 shares. The stock had previously closed at $135.91.

A number of other equities research analysts have also recently commented on NVDA. Deutsche Bank Aktiengesellschaft increased their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Mizuho boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Redburn Atlantic initiated coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.27.

Get Our Latest Stock Analysis on NVIDIA

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % 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 valued at $146,506,958. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the second quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

The stock has a market cap of $3.26 trillion, a PE ratio of 52.43, a PEG ratio of 2.43 and a beta of 1.64. 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 stock’s 50-day moving average is $139.84 and its two-hundred day moving average is $128.76.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. 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 dividend payout ratio is presently 1.57%.

About NVIDIA

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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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