NVIDIA (NASDAQ:NVDA) Stock Price Down 4% After Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA) shares dropped 4% on Thursday after TD Cowen lowered their price target on the stock from $175.00 to $140.00. TD Cowen currently has a buy rating on the stock. NVIDIA traded as low as $106.94 and last traded at $109.79. Approximately 126,599,886 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 314,506,326 shares. The stock had previously closed at $114.33.

NVDA has been the subject of several other reports. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, Stifel Nicolaus set a $180.00 target price 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.01.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter worth approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 4th quarter worth $46,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

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 stock has a market cap of $2.62 trillion, a P/E ratio of 42.33, a P/E/G ratio of 1.76 and a beta of 1.96. The business’s 50-day moving average price is $119.10 and its 200-day moving average price is $130.45.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 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.