NVIDIA (NASDAQ:NVDA) Trading Down 1% - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) dropped 1% during trading on Tuesday . The stock traded as low as $110.82 and last traded at $112.66. Approximately 55,253,453 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 298,801,797 shares. The stock had previously closed at $113.82.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVDA. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Mizuho lowered their price target on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Susquehanna reiterated a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have issued a buy rating and two have assigned 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 $164.96.

NVIDIA Stock Performance

The company has a 50-day moving average price of $110.21 and a 200-day moving average price of $127.73. 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 capitalization of $2.87 trillion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $38.16 billion. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's payout ratio is presently 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. increased its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Palisade Asset Management LLC increased its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Baker Boyer National Bank boosted its holdings 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 acquiring an additional 76 shares during the last quarter. Kwmg LLC increased its position in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock worth $1,755,000 after purchasing an additional 77 shares in the last quarter. Finally, SC&H Financial Advisors Inc. boosted its position in NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after purchasing an additional 80 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.