NVIDIA (NASDAQ:NVDA) Stock Price Down 6.7% – What’s Next?

by · The Cerbat Gem

NVIDIA Co. (NASDAQ:NVDA – Get Free Report)’s stock price dropped 6.7% on Friday . The stock traded as low as $92.11 and last traded at $95.02. Approximately 184,113,955 shares were traded during trading, a decline of 41% from the average daily volume of 312,387,726 shares. The stock had previously closed at $101.80.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.89.

Get Our Latest Analysis on NVDA

NVIDIA Stock Performance

The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.33 trillion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 1.76 and a beta of 1.96. The business’s 50-day simple moving average is $122.16 and its two-hundred day simple moving average is $131.11.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,609 shares of company stock worth $22,642,615 in the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently added to or reduced their stakes in NVDA. DiNuzzo Private Wealth Inc. raised its stake in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the period. Smart Portfolios LLC raised its position in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC lifted its holdings in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the last quarter. Baker Boyer National Bank raised its position in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after purchasing an additional 76 shares during the period. Finally, Kwmg LLC lifted its stake in shares of NVIDIA by 0.6% in the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

(Get Free Report)

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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