NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) shares were down 4.3% during mid-day trading on Thursday after Truist Financial downgraded the stock from a buy rating to a hold rating. Truist Financial now has a $174.00 price target on the stock. NVIDIA traded as low as $148.80 and last traded at $166.19. Approximately 735,781,888 shares were traded during mid-day trading, an increase of 373% from the average daily volume of 155,564,891 shares. The stock had previously closed at $173.73.
Several other equities analysts have also commented on NVDA. Raymond James Financial raised NVIDIA from an "outperform" rating to a "strong-buy" rating in a report on Wednesday. Aletheia Capital downgraded NVIDIA from a "buy" rating to a "hold" rating in a report on Monday. Piper Sandler initiated coverage on NVIDIA in a research report on Wednesday, September 9th. They set an "overweight" rating and a $300.00 price objective for the company. New Street Research restated a "buy" rating on shares of NVIDIA in a research note on Thursday. Finally, Royal Bank Of Canada set a $225.00 target price on NVIDIA in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $283.63.
Read Our Latest Stock Analysis on NVIDIA
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director Mark Stevens sold 622,239 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the completion of the transaction, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 34,918 shares of the firm's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total value of $7,648,787.90. Following the transaction, the chief financial officer directly owned 765,103 shares in the company, valued at $167,595,812.15. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,766,118 shares of company stock valued at $399,450,353 in the last quarter. Corporate insiders own 3.94% of the company's stock.
Recent NVIDIA Headlines
Here are a few of the latest headlines about NVDA:
- Positive Sentiment: Long-term demand remains a potential support: hyperscalers are continuing large AI infrastructure investments, and analysts note that the data-center buildout does not depend on one executive. Some market commentators view the sell-off as a buying opportunity. Article: Checkmate for AI Chips? NVIDIA’s Crisis Opens the Board
- Neutral Sentiment: NVIDIA is scheduled to report fiscal third-quarter results on November 17. The report could provide investors with an important update on demand and guidance amid the leadership turmoil. Article: NVIDIA Gears Up for Q3 Earnings
- Negative Sentiment: Huang’s departure after 33 years intensifies key-person and succession concerns. Reports of alleged relationships—including one involving a woman described as a suspected Chinese intelligence asset—have also heightened governance and national-security scrutiny. Article: Former Nvidia CEO Huang had a relationship with a second employee, sources say
Institutional Trading of NVIDIA
A number of institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in NVIDIA by 1.5% during the third quarter. State Street Corp now owns 1,025,075,347 shares of the computer hardware maker's stock valued at $234,355,574,000 after buying an additional 15,291,910 shares in the last quarter. Bank of America Corp DE raised its position in NVIDIA by 2.2% in the second quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock worth $39,090,956,000 after acquiring an additional 4,165,875 shares in the last quarter. Amundi lifted its holdings in NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock valued at $23,329,141,000 after acquiring an additional 12,575,177 shares during the last quarter. Deutsche Bank AG lifted its holdings in NVIDIA by 2.3% in the 2nd quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker's stock valued at $18,399,108,000 after acquiring an additional 2,045,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in NVIDIA by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker's stock valued at $16,479,126,000 after acquiring an additional 555,221 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.
NVIDIA Stock Performance
The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $217.12 and its two-hundred day moving average price is $204.35. The company has a market cap of $4.01 trillion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.30 and a beta of 2.21.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company had revenue of $96.22 billion for the quarter, compared to analysts' expectations of $92.27 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business's revenue was up 105.9% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Corporation will post 9.30 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. NVIDIA's dividend payout ratio (DPR) is currently 12.64%.
NVIDIA declared that its Board of Directors has initiated a share buyback program on Monday, September 28th that authorizes the company to buy back $150 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.
NVIDIA Company Profile
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Get Free Report)
NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA's offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.
Further Reading
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