NVIDIA (NASDAQ:NVDA) Shares Down 1.3% - Here's Why

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) fell 1.3% during mid-day trading on Friday . The stock traded as low as $142.71 and last traded at $143.61. 85,889,826 shares were traded during trading, a decline of 68% from the average session volume of 265,826,531 shares. The stock had previously closed at $145.48.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Bank of America upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.05.

NVIDIA Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company's 50-day moving average price is $125.72 and its 200 day moving average price is $126.66. The stock has a market capitalization of $3.52 trillion, a PE ratio of 46.48, a PEG ratio of 1.28 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now directly owns 201,044 shares of the company's stock, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,469,685 shares of company stock valued at $349,669,962 in the last three months. Company insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the company. Tacita Capital Inc bought a new stake in NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter valued at about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the fourth quarter worth approximately $40,000. Kathleen S. Wright Associates Inc. raised its holdings in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the last quarter. Finally, Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at approximately $50,000. Institutional investors own 65.27% of the company's stock.

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.

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