Citigroup Issues Pessimistic Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Free Report) had its target price reduced by Citigroup from $163.00 to $150.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the computer hardware maker's stock.

Several other analysts have also commented on NVDA. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Susquehanna reissued a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush reaffirmed an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, February 20th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Summit Insights cut NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $168.26.

NVIDIA Stock Performance

NASDAQ NVDA traded up $1.49 during mid-day trading on Friday, reaching $112.20. 216,622,102 shares of the stock were exchanged, compared to its average volume of 313,256,261. The company has a market capitalization of $2.74 trillion, a P/E ratio of 44.16, a P/E/G ratio of 1.76 and a beta of 1.96. 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 business's 50 day moving average is $118.34 and its 200-day moving average is $130.20. NVIDIA has a 1 year low of $75.61 and a 1 year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, equities research analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is 1.36%.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter valued at $34,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $46,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.