NVIDIA (NASDAQ:NVDA) Stock Price Down 3.4% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price traded down 3.4% on Monday after Morgan Stanley lowered their price target on the stock from $162.00 to $160.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $107.86 and last traded at $107.28. 69,627,215 shares were traded during mid-day trading, a decline of 77% from the average session volume of 303,736,419 shares. The stock had previously closed at $111.01.

Other analysts also recently issued reports about the company. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. TD Cowen cut their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.96.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last 90 days. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently modified their holdings of the business. Brass Tax Wealth Management Inc. boosted its stake in shares of NVIDIA by 20.9% in the first quarter. Brass Tax Wealth Management Inc. now owns 11,256 shares of the computer hardware maker’s stock valued at $1,220,000 after buying an additional 1,948 shares in the last quarter. Security National Bank of SO Dak grew its stake in shares of NVIDIA by 24.1% during the 1st quarter. Security National Bank of SO Dak now owns 20,544 shares of the computer hardware maker’s stock worth $2,227,000 after purchasing an additional 3,992 shares during the period. Financial Counselors Inc. increased its holdings in shares of NVIDIA by 0.4% in the 1st quarter. Financial Counselors Inc. now owns 1,812,934 shares of the computer hardware maker’s stock valued at $196,486,000 after purchasing an additional 6,330 shares in the last quarter. Liberty Square Wealth Partners LLC lifted its stake in shares of NVIDIA by 4.1% in the first quarter. Liberty Square Wealth Partners LLC now owns 20,092 shares of the computer hardware maker’s stock valued at $2,178,000 after purchasing an additional 800 shares during the period. Finally, Wood Tarver Financial Group LLC boosted its holdings in NVIDIA by 6.6% during the first quarter. Wood Tarver Financial Group LLC now owns 4,683 shares of the computer hardware maker’s stock worth $508,000 after buying an additional 288 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The firm’s 50-day simple moving average is $111.97 and its two-hundred day simple moving average is $128.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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.