NVIDIA (NASDAQ:NVDA) Shares Down 3.8% – Here’s What Happened

Shares of NVIDIA Corporation (NASDAQ:NVDA) dropped 3.8% on Wednesday . The company traded as low as $170.31 and last traded at $170.94. Approximately 219,950,829 shares changed hands during trading, a decline of 2% from the average daily volume of 223,422,188 shares. The stock had previously closed at $177.72.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. 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. Wall Street Zen raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Raymond James Financial set a $272.00 target price on shares of NVIDIA and gave the company a “strong-buy” rating in a research report on Thursday, November 20th. Susquehanna raised their target price on shares of NVIDIA from $230.00 to $250.00 and gave the company a “positive” rating in a research note on Thursday, November 20th. Finally, Bank of America upped their price target on NVIDIA from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $258.65.

NVIDIA Stock Down 3.8%

The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The business’s fifty day moving average price is $186.36 and its two-hundred day moving average price is $174.65. The stock has a market capitalization of $4.15 trillion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29.

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

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 626 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $179.42, for a total transaction of $112,316.92. Following the completion of the transaction, the director directly owned 17,792 shares of the company’s stock, valued at approximately $3,192,240.64. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 350,000 shares of NVIDIA stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $181.73, for a total transaction of $63,605,500.00. Following the sale, the director owned 7,049,803 shares of the company’s stock, valued at approximately $1,281,160,699.19. The trade was a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,679,474 shares of company stock valued at $486,790,117 over the last quarter. Company insiders own 4.17% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently added to or reduced their stakes in NVDA. Center for Financial Planning Inc. lifted its holdings in shares of NVIDIA by 4.6% during the 2nd quarter. Center for Financial Planning Inc. now owns 8,429 shares of the computer hardware maker’s stock valued at $1,332,000 after acquiring an additional 367 shares in the last quarter. Atria Investments Inc lifted its stake in shares of NVIDIA by 3.2% during the second quarter. Atria Investments Inc now owns 942,208 shares of the computer hardware maker’s stock worth $148,859,000 after purchasing an additional 29,479 shares in the last quarter. Fielder Capital Group LLC boosted its position in shares of NVIDIA by 9.7% in the first quarter. Fielder Capital Group LLC now owns 50,469 shares of the computer hardware maker’s stock worth $5,470,000 after buying an additional 4,444 shares during the period. MADDEN SECURITIES Corp grew its stake in shares of NVIDIA by 3.2% in the second quarter. MADDEN SECURITIES Corp now owns 81,322 shares of the computer hardware maker’s stock valued at $12,848,000 after buying an additional 2,484 shares in the last quarter. Finally, ORG Wealth Partners LLC raised its holdings in shares of NVIDIA by 7.7% during the 2nd quarter. ORG Wealth Partners LLC now owns 49,301 shares of the computer hardware maker’s stock valued at $7,560,000 after buying an additional 3,542 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.