NVIDIA (NASDAQ:NVDA) Shares Down 3.5% Following Analyst Downgrade

Shares of NVIDIA Co. (NASDAQ:NVDA) traded down 3.5% during trading on Thursday 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 $100.12 and last traded at $100.87. 110,380,104 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 312,610,357 shares. The stock had previously closed at $104.49.

NVDA has been the topic of several other reports. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. TD Cowen reduced their price target on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Raymond James reaffirmed a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday. Mizuho cut their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, KeyCorp set a $190.00 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 given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $165.51.

Insider Transactions at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This represents a 27.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hickory Point Bank & Trust acquired a new position in shares of NVIDIA during the fourth quarter worth $2,272,000. Capital Performance Advisors LLP lifted its holdings in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after buying an additional 9,944 shares during the period. Ethos Financial Group LLC grew its position in shares of NVIDIA by 24.1% in the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after buying an additional 6,241 shares during the last quarter. Metis Global Partners LLC raised its position in shares of NVIDIA by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock worth $196,711,000 after acquiring an additional 50,978 shares during the last quarter. Finally, Candriam S.C.A. lifted its stake in shares of NVIDIA by 0.5% in the fourth quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker’s stock worth $948,229,000 after acquiring an additional 35,684 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $117.19 and its two-hundred day simple moving average is $129.89. The firm 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 announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for 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%. As a group, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. 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 presently 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.