NVIDIA (NASDAQ:NVDA) Shares Down 3.4% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA - Get Free Report) was down 3.4% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $162.00 to $160.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $107.86 and last traded at $107.28. Approximately 69,627,215 shares changed hands during trading, a decline of 77% from the average daily volume of 303,736,419 shares. The stock had previously closed at $111.01.

A number of other research analysts have also issued reports on the stock. Rosenblatt Securities dropped their price objective on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, April 25th. Wedbush reissued an "outperform" rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research note on Wednesday, March 19th. Finally, Citigroup restated a "buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $164.96.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was 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 of the company's stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company's stock.

Institutional Trading of NVIDIA

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

NVIDIA Trading Down 0.1 %

The stock has a market capitalization of $2.66 trillion, a P/E ratio of 42.87, 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 current ratio of 4.10 and a quick ratio of 3.64. The firm's 50 day moving average price is $111.47 and its 200 day moving average price is $128.49.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

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.