NVIDIA (NASDAQ:NVDA) Stock Price Down 4% – What’s Next?

Shares of NVIDIA Corporation (NASDAQ:NVDA) dropped 4% during mid-day trading on Tuesday . The company traded as low as $152.83 and last traded at $151.67. Approximately 65,577,793 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 268,144,366 shares. The stock had previously closed at $157.99.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. Mizuho boosted their price target on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. Truist Financial lifted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. DA Davidson upped their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Finally, UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.78.

NVIDIA Stock Down 2.5%

The firm has a market cap of $3.76 trillion, a price-to-earnings ratio of 49.79, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12. The stock has a 50-day moving average of $132.18 and a 200-day moving average of $127.06. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $144.21, for a total transaction of $2,884,200.00. Following the completion of the transaction, the chief financial officer owned 173,060 shares in the company, valued at approximately $24,956,982.60. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,792,267 shares of company stock worth $544,823,117. 4.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Group Ltd. increased its position in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of NVIDIA in the fourth quarter valued at $972,000. Capital & Planning LLC boosted its stake in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after buying an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. grew its holdings in NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after acquiring an additional 104 shares during the period. Finally, Brighton Jones LLC raised its position in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.