NVIDIA (NASDAQ:NVDA) Shares Down 3% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA) shares fell 3% during mid-day trading on Friday after UBS Group lowered their price target on the stock from $185.00 to $180.00. UBS Group currently has a buy rating on the stock. NVIDIA traded as low as $100.05 and last traded at $101.33. 290,593,259 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 312,556,411 shares. The stock had previously closed at $104.49.

Several other research firms have also weighed in on NVDA. TD Cowen decreased their target price on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Raymond James reiterated a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Thursday, April 3rd. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Six research 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 company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $165.51.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last three months. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of NVDA. Wealth Group Ltd. raised its stake in shares of NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares during the period. Swedbank AB lifted its holdings in shares of NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of NVIDIA by 13.2% during the third quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker’s stock worth $667,278,000 after acquiring an additional 640,840 shares in the last quarter. Finally, Heritage Investors Management Corp raised its stake in shares of NVIDIA by 8.5% in the 3rd quarter. Heritage Investors Management Corp now owns 522,556 shares of the computer hardware maker’s stock valued at $63,459,000 after purchasing an additional 40,732 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business has a 50-day simple moving average of $116.56 and a two-hundred day simple moving average of $129.78. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company 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%. As a group, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.