NVIDIA (NASDAQ:NVDA) Shares Down 1.3% – What’s Next?

NVIDIA Co. (NASDAQ:NVDA)’s share price fell 1.3% on Monday . The company traded as low as $137.15 and last traded at $140.13. 85,599,595 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 398,119,688 shares. The stock had previously closed at $141.98.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 65.71, a PEG ratio of 1.49 and a beta of 1.66. The stock has a 50-day moving average price of $130.97 and a 200-day moving average price of $120.58.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the firm earned $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the stock. Chiron Investment Management LLC boosted its position in NVIDIA by 2.3% in the third quarter. Chiron Investment Management LLC now owns 111,878 shares of the computer hardware maker’s stock valued at $13,586,000 after buying an additional 2,561 shares in the last quarter. Brown Financial Advisors boosted its holdings in shares of NVIDIA by 16.4% during the 3rd quarter. Brown Financial Advisors now owns 34,822 shares of the computer hardware maker’s stock valued at $4,229,000 after acquiring an additional 4,899 shares in the last quarter. Coldstream Capital Management Inc. grew its position in NVIDIA by 13.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 630,057 shares of the computer hardware maker’s stock worth $78,339,000 after acquiring an additional 72,548 shares during the last quarter. Gould Capital LLC increased its holdings in NVIDIA by 10.7% in the 3rd quarter. Gould Capital LLC now owns 2,563 shares of the computer hardware maker’s stock worth $311,000 after purchasing an additional 247 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC raised its position in NVIDIA by 17.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 77,577 shares of the computer hardware maker’s stock valued at $9,421,000 after purchasing an additional 11,711 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.