NVIDIA (NASDAQ:NVDA) Stock Price Down 3.3% – Here’s What Happened

NVIDIA Corporation (NASDAQ:NVDA) shares traded down 3.3% on Friday . The stock traded as low as $174.62 and last traded at $175.02. 202,171,988 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 223,863,281 shares. The stock had previously closed at $180.93.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. KeyCorp boosted their target price on shares of NVIDIA from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Robert W. Baird set a $275.00 price objective on shares of NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Sanford C. Bernstein reiterated a “buy” rating on shares of NVIDIA in a research report on Tuesday. Wolfe Research lifted their target price on NVIDIA from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, DZ Bank reaffirmed a “buy” rating on shares of NVIDIA in a research note on Thursday, November 20th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $258.65.

NVIDIA Stock Down 3.3%

The firm has a market cap of $4.25 trillion, a P/E ratio of 43.43, a price-to-earnings-growth ratio of 0.90 and a beta of 2.29. The firm’s 50 day moving average is $186.94 and its two-hundred day moving average is $173.24. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The business’s quarterly revenue was up 62.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s payout ratio is currently 0.99%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 350,000 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $176.39, for a total value of $61,736,500.00. Following the completion of the sale, the director directly owned 7,399,803 shares in the company, valued at $1,305,251,251.17. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $176.21, for a total value of $44,052,500.00. Following the sale, the director directly owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,629,134 shares of company stock valued at $477,077,768 in the last three months. Insiders own 4.17% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Large investors have recently made changes to their positions in the stock. Center for Financial Planning Inc. raised its position in NVIDIA by 4.6% in the 2nd quarter. Center for Financial Planning Inc. now owns 8,429 shares of the computer hardware maker’s stock worth $1,332,000 after buying an additional 367 shares during the last quarter. Atria Investments Inc grew its stake in shares of NVIDIA by 3.2% in the second quarter. Atria Investments Inc now owns 942,208 shares of the computer hardware maker’s stock worth $148,859,000 after acquiring an additional 29,479 shares during the period. Fielder Capital Group LLC raised its holdings in shares of NVIDIA by 9.7% during the first quarter. Fielder Capital Group LLC now owns 50,469 shares of the computer hardware maker’s stock valued at $5,470,000 after purchasing an additional 4,444 shares during the last quarter. MADDEN SECURITIES Corp raised its holdings in shares of NVIDIA by 3.2% during the second quarter. MADDEN SECURITIES Corp now owns 81,322 shares of the computer hardware maker’s stock valued at $12,848,000 after purchasing an additional 2,484 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its position in NVIDIA by 7.7% during the second quarter. ORG Wealth Partners LLC now owns 49,301 shares of the computer hardware maker’s stock valued at $7,560,000 after purchasing an additional 3,542 shares during the period. 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.