NVIDIA (NASDAQ:NVDA) Trading Down 5% - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price was down 5% during trading on Monday . The company traded as low as $95.57 and last traded at $96.42. Approximately 101,202,334 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 308,955,562 shares. The stock had previously closed at $101.49.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. DA Davidson cut their target price on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their target price on NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Barclays reduced their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Tuesday. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Up 4.3 %

The stock has a market cap of $2.71 trillion, a price-to-earnings ratio of 43.69, a P/E/G ratio of 1.76 and a beta of 1.96. The stock's 50-day moving average price is $113.21 and its 200-day moving average price is $129.01. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA's payout ratio is presently 1.36%.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The stock was 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 owns 53,208 shares of the company's stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter worth $43,515,504,000. GAMMA Investing LLC boosted its position in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Clear Street Derivatives LLC purchased a new position in shares of NVIDIA during the third quarter worth about $4,589,905,000. Northern Trust Corp increased its position in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Hedge funds and other 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.