NVIDIA (NASDAQ:NVDA) Stock Price Down 4.7% Following Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price fell 4.7% during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $166.00 to $152.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $121.72 and last traded at $122.98. 135,322,529 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 267,683,500 shares. The stock had previously closed at $128.99.

Other equities analysts have also issued research reports about the stock. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Needham & Company LLC boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barclays increased their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus boosted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Citigroup raised their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.23.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the third quarter valued at $27,000. Quest Partners LLC bought a new position in NVIDIA in the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA during the 4th quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 4.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm’s 50 day moving average is $137.91 and its two-hundred day moving average is $129.44. The firm has a market capitalization of $3.01 trillion, a P/E ratio of 48.40, a PEG ratio of 2.65 and a beta of 1.64.

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

NVIDIA Announces Dividend

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

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.