NVIDIA (NASDAQ:NVDA) Trading Down 0.1% – Should You Sell?

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded down 0.1% during mid-day trading on Thursday . The stock traded as low as $138.46 and last traded at $139.45. 73,238,048 shares were traded during mid-day trading, a decline of 82% from the average session volume of 414,659,844 shares. The stock had previously closed at $139.56.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Westpark Capital upped their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Finally, Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Up 0.1 %

The stock’s 50 day simple moving average is $123.56 and its two-hundred day simple moving average is $113.50. The firm has a market cap of $3.43 trillion, a P/E ratio of 65.41, a P/E/G ratio of 1.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

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

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total value of $13,564,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,334,995 shares in the company, valued at $8,741,947,834.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the completion of the sale, the chief executive officer now directly owns 77,334,995 shares of the company’s stock, valued at approximately $8,741,947,834.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,756,270 shares of company stock worth $318,992,727 in the last three months. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Large investors have recently added to or reduced their stakes in the stock. Truepoint Inc. grew its position in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the period. Consolidated Planning Corp grew its position in shares of NVIDIA by 825.9% during the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after acquiring an additional 75,046 shares during the period. International Private Wealth Advisors LLC grew its position in shares of NVIDIA by 1,452.1% during the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after acquiring an additional 7,028 shares during the period. Lafayette Investments Inc. grew its position in shares of NVIDIA by 901.8% during the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after acquiring an additional 5,140 shares during the period. Finally, AMJ Financial Wealth Management grew its position in shares of NVIDIA by 898.7% during the 2nd quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock valued at $7,326,000 after acquiring an additional 53,362 shares during the period. 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.