NVIDIA (NASDAQ:NVDA) Stock Price Down 1.4% - Here's What Happened

Key Points

• NVIDIA's stock price decreased by 1.4% on Tuesday, trading as low as $176.67 and reflecting a significant drop in trading volume.
• Research analysts have set varying price targets for NVIDIA, with ratings ranging from strong sell to strong buy, resulting in a consensus rating of Moderate Buy.
• NVIDIA reported $0.81 earnings per share for the last quarter, missing forecasts, but still achieved a year-over-year revenue increase of 69.2%.

Shares of NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) were down 1.4% during mid-day trading on Tuesday . The company traded as low as $176.67 and last traded at $177.42. Approximately 51,237,370 shares changed hands during trading, a decline of 79% from the average daily volume of 246,715,172 shares. The stock had previously closed at $180.00.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVDA. Loop Capital lifted their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Benchmark reaffirmed a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Jefferies Financial Group boosted their target price on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, UBS Group restated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Price Performance

The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.35 trillion, a P/E ratio of 57.48, a PEG ratio of 1.59 and a beta of 2.14. The company has a fifty day simple moving average of $157.13 and a two-hundred day simple moving average of $132.90.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,489,800 shares of company stock worth $826,553,003. Corporate insiders own 4.17% of the company's stock.

Institutional Trading of NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Morton Brown Family Wealth LLC lifted its stake in NVIDIA by 1.5% in the second quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker's stock valued at $621,000 after buying an additional 58 shares in the last quarter. Roof Eidam Maycock Peralta LLC lifted its position in NVIDIA by 0.3% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker's stock valued at $3,302,000 after acquiring an additional 58 shares in the last quarter. Alpha Wealth Funds LLC boosted its stake in NVIDIA by 1.3% in the 2nd quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker's stock worth $732,000 after purchasing an additional 59 shares during the period. Copia Wealth Management increased its holdings in NVIDIA by 14.7% during the 2nd quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker's stock worth $74,000 after purchasing an additional 60 shares in the last quarter. Finally, BKM Wealth Management LLC raised its stake in shares of NVIDIA by 1.1% in the 2nd quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker's stock valued at $908,000 after purchasing an additional 60 shares during the period. Institutional investors 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.