NVIDIA (NASDAQ:NVDA) Shares Down 1.5%

NVIDIA Co. (NASDAQ:NVDA) shares fell 1.5% during trading on Wednesday . The stock traded as low as $860.32 and last traded at $861.09. 14,482,104 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 51,401,496 shares. The stock had previously closed at $874.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Argus upped their price objective on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. UBS Group increased their target price on shares of NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company lifted their price target on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Citigroup raised their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Evercore ISI started coverage on NVIDIA in a research note on Tuesday. They set an “outperform” rating and a $1,160.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Stock Down 2.0 %

The business has a 50 day moving average price of $838.10 and a 200 day moving average price of $616.90. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.14 trillion, a PE ratio of 72.12, a P/E/G ratio of 1.24 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 265.3% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Studio Investment Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $27,000. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA in the 4th quarter valued at $28,000. Criterion Capital Advisors LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth $28,000. Peoples Financial Services CORP. purchased a new position in shares of NVIDIA during the 3rd quarter worth $30,000. Finally, Your Advocates Ltd. LLP purchased a new stake in shares of NVIDIA in the third quarter valued at about $30,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.