NVIDIA (NASDAQ:NVDA) Shares Down 3% on Analyst Downgrade

Shares of NVIDIA Co. (NASDAQ:NVDA) fell 3% during trading on Friday 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 $100.05 and last traded at $101.33. 290,593,259 shares changed hands during trading, a decline of 7% from the average session volume of 312,556,411 shares. The stock had previously closed at $104.49.

Several other analysts also recently weighed in on the company. Truist Financial lifted their target price on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Citigroup reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Mizuho dropped their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.51.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction 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. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently bought and sold shares of NVDA. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter worth $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the 4th quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 3.0 %

The company has a 50 day simple moving average of $116.56 and a 200 day simple moving average of $129.78. The company has a market capitalization of $2.47 trillion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 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 firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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