Investors Sell Shares of NVIDIA (NVDA) on Strength After Analyst Downgrade
Traders sold shares of NVIDIA Co. (NASDAQ:NVDA) on strength during trading on Monday after BidaskClub downgraded the stock from a strong-buy rating to a buy rating. $1,450.36 million flowed into the stock on the tick-up and $1,538.42 million flowed out of the stock on the tick-down, for a money net flow of $88.06 million out of the stock. Of all stocks tracked, NVIDIA had the 6th highest net out-flow for the day. NVIDIA traded up $3.02 for the day and closed at $247.84
Several other equities analysts have also recently issued reports on NVDA. Barclays upgraded NVIDIA from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $265.00 to $280.00 in a report on Thursday, May 3rd. Deutsche Bank raised their price target on NVIDIA from $230.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, May 8th. Mizuho raised their price target on NVIDIA to $280.00 and gave the company a “buy” rating in a report on Friday, May 11th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of NVIDIA in a report on Friday, May 11th. Finally, Royal Bank of Canada raised their price target on NVIDIA to $300.00 and gave the company an “outperform” rating in a report on Friday, May 11th. Eight equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $281.58.
In other news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the sale, the director now owns 31,725 shares of the company’s stock, valued at $7,680,939.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 38,040 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $263.61, for a total value of $10,027,724.40. Following the sale, the director now directly owns 159,287 shares in the company, valued at approximately $41,989,646.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,501 shares of company stock worth $63,907,635. 4.70% of the stock is currently owned by insiders.
The stock has a market cap of $154.66 billion, a PE ratio of 52.42, a P/E/G ratio of 3.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.54 and a quick ratio of 7.82.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the firm earned $1.01 EPS. NVIDIA’s revenue for the quarter was up 40.0% compared to the same quarter last year. equities research analysts anticipate that NVIDIA Co. will post 7.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Thursday, August 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Wednesday, August 29th. NVIDIA’s dividend payout ratio is presently 12.85%.
NVIDIA Company Profile (NASDAQ:NVDA)
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.