NVIDIA (NASDAQ:NVDA) Stock Price Down 1.9% – Should You Sell?

NVIDIA Co. (NASDAQ:NVDA) shares were down 1.9% on Thursday . The company traded as low as $140.70 and last traded at $143.08. Approximately 179,814,828 shares traded hands during trading, a decline of 55% from the average daily volume of 396,672,844 shares. The stock had previously closed at $145.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVDA shares. Wedbush lifted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday. Melius Research lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.82.

NVIDIA Price Performance

The company has a 50-day moving average of $133.00 and a 200-day moving average of $121.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 67.60, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. As a group, equities research analysts expect that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

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

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the 1st quarter valued at about $27,000. 65.27% of the stock is 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.