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NVIDIA (NASDAQ:NVDA) Trading Down 4% - What's Next?

NVIDIA logo with Computer and Technology background

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) traded down 4% during mid-day trading on Tuesday . The stock traded as low as $152.83 and last traded at $151.67. 65,577,793 shares traded hands during trading, a decline of 76% from the average session volume of 268,144,366 shares. The stock had previously closed at $157.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, June 16th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Raymond James Financial upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. TD Cowen lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Mizuho upped their target price on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $175.78.

Get Our Latest Analysis on NVDA

NVIDIA Stock Performance

The company's fifty day moving average price is $133.27 and its two-hundred day moving average price is $127.24. 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 firm has a market capitalization of $3.74 trillion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 1.40 and a beta of 2.13.

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

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,044,919 shares of company stock worth $584,414,209 over the last ninety days. 4.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hickory Point Bank & Trust acquired a new position in shares of NVIDIA during the fourth quarter worth about $2,272,000. BTC Capital Management Inc. raised its holdings in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after buying an additional 7,476 shares during the period. Capital Performance Advisors LLP lifted its position in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Waddell & Associates LLC boosted its holdings in NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after acquiring an additional 297 shares during the period. Finally, Strategy Asset Managers LLC grew its position in NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after acquiring an additional 405 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

(Get Free Report)

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.

Further Reading

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