NVIDIA (NASDAQ:NVDA) Trading Down 1% - Here's Why

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price fell 1% during mid-day trading on Thursday . The company traded as low as $132.66 and last traded at $133.96. 76,626,076 shares were traded during trading, a decline of 74% from the average session volume of 295,299,064 shares. The stock had previously closed at $135.34.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVDA. Wedbush reaffirmed an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, TD Cowen dropped their price objective on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $164.84.

NVIDIA Price Performance

The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.29, a PEG ratio of 1.76 and a beta of 2.11. The business's fifty day moving average price is $112.33 and its 200-day moving average price is $126.97. 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 issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $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. Insiders have sold 147,147 shares of company stock valued at $17,133,207 over the last ninety days. Corporate insiders own 4.23% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in NVIDIA in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in NVIDIA in the fourth quarter worth about $40,000. Finally, Kathleen S. Wright Associates Inc. raised its position in NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after acquiring an additional 254 shares during the period. 65.27% of the stock is owned by institutional investors.

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.