NVIDIA (NASDAQ:NVDA) Trading Down 2.9% – Should You Sell?

Shares of NVIDIA Co. (NASDAQ:NVDA) fell 2.9% on Friday . The stock traded as low as $134.71 and last traded at $135.90. 61,389,203 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 378,625,875 shares. The stock had previously closed at $139.93.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. The Goldman Sachs Group raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Mizuho raised their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. TD Cowen boosted their target price on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark increased their target price on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Truist Financial lifted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Down 2.1 %

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 company’s 50-day moving average price is $139.97 and its 200 day moving average price is $127.95. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 53.92, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,351,886 shares of company stock worth $176,825,650 over the last quarter. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SMART Wealth LLC boosted its stake in NVIDIA by 24.6% during the third quarter. SMART Wealth LLC now owns 18,564 shares of the computer hardware maker’s stock worth $2,254,000 after buying an additional 3,670 shares during the period. Brass Tax Wealth Management Inc. grew its holdings in NVIDIA by 53.0% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock valued at $346,000 after purchasing an additional 985 shares during the last quarter. Legacy Wealth Management LLC MS raised its position in NVIDIA by 60.5% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock worth $5,193,000 after purchasing an additional 16,115 shares during the period. SPX Gestao de Recursos Ltda boosted its position in shares of NVIDIA by 3.7% during the third quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock valued at $15,552,000 after buying an additional 4,523 shares during the period. Finally, Alternative Investment Advisors LLC. grew its position in NVIDIA by 15.0% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock valued at $2,377,000 after acquiring an additional 2,547 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.