NVIDIA (NASDAQ:NVDA) Stock Price Down 1.7% - Here's What Happened

NVIDIA Co. (NASDAQ:NVDA - Get Free Report)'s stock price dropped 1.7% during mid-day trading on Friday . The stock traded as low as $141.07 and last traded at $142.55. Approximately 63,403,181 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 276,003,767 shares. The stock had previously closed at $145.00.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVDA. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Susquehanna reiterated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.24.

NVIDIA Stock Performance

The stock's 50 day moving average price is $122.77 and its 200 day moving average price is $126.44. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.46 trillion, a PE ratio of 55.87, a P/E/G ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the firm earned $0.61 EPS. The business's quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 190,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the transaction, the director now directly owns 8,855,848 shares of the company's stock, valued at $1,262,046,898.48. The trade was a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,560,845 shares of company stock valued at $360,351,849. Insiders own 4.17% of the company's stock.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hickory Point Bank & Trust acquired a new position in NVIDIA in the 4th quarter valued at approximately $2,272,000. BTC Capital Management Inc. increased its stake in NVIDIA by 2.3% in 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 increased its stake in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after buying an additional 9,944 shares during the period. Waddell & Associates LLC increased its stake in NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after buying an additional 297 shares during the period. Finally, Strategy Asset Managers LLC increased its stake in NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after buying an additional 405 shares during the period. 65.27% of the stock is currently owned by institutional investors.

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.