NVIDIA (NASDAQ:NVDA) Stock Price Down 0.9% - What's Next?

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price traded down 0.9% during trading on Thursday . The company traded as low as $143.72 and last traded at $145.68. 58,214,355 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 211,463,125 shares. The stock had previously closed at $147.07.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. Citigroup lifted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Raymond James increased their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a "strong-buy" rating in a research note on Thursday, November 14th. DA Davidson lifted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $164.63.

NVIDIA Stock Down 3.1 %

The stock has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 56.13, a PEG ratio of 2.65 and a beta of 1.64. The firm has a 50-day moving average of $138.72 and a 200 day moving average of $129.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. During the same period last year, the business earned $0.38 earnings per share. The firm's revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA's payout ratio is currently 1.57%.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company's stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Hedge funds have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. boosted its stake in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock valued at $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. raised its holdings in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker's stock valued at $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock valued at $29,505,000 after acquiring an additional 208,362 shares during the period. Palisade Asset Management LLC grew its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Finally, Blue Square Asset Management LLC increased its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock worth $5,840,000 after purchasing an additional 10,136 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.