NVIDIA (NASDAQ:NVDA) Trading Down 2.5% - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) fell 2.5% during trading on Wednesday . The company traded as low as $104.08 and last traded at $106.28. 72,638,522 shares changed hands during trading, a decline of 76% from the average session volume of 302,487,534 shares. The stock had previously closed at $109.02.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVDA shares. Benchmark restated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Barclays reduced their price objective on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Susquehanna reissued a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, April 25th. One equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.

NVIDIA Stock Up 2.2 %

The firm has a fifty day moving average price of $111.09 and a 200 day moving average price of $128.31. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.78 trillion, a price-to-earnings ratio of 44.81, a P/E/G ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS 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 firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % 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 three months. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently added to or reduced their stakes in the stock. United Community Bank increased its stake in shares of NVIDIA by 39.8% in the 1st quarter. United Community Bank now owns 19,616 shares of the computer hardware maker's stock valued at $2,126,000 after acquiring an additional 5,588 shares during the last quarter. Firestone Capital Management bought a new stake in NVIDIA in the first quarter valued at approximately $215,000. LJI Wealth Management LLC raised its holdings in NVIDIA by 0.9% in the first quarter. LJI Wealth Management LLC now owns 32,798 shares of the computer hardware maker's stock worth $3,555,000 after purchasing an additional 302 shares during the period. Zeit Capital LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at $98,000. Finally, Baer Investment Advisory LLC acquired a new stake in NVIDIA during the 1st quarter worth $2,064,000. Institutional investors and hedge funds 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.