NVIDIA (NASDAQ:NVDA) Trading Down 2.6% – Time to Sell?

NVIDIA Co. (NASDAQ:NVDA)’s stock price dropped 2.6% on Thursday . The company traded as low as $112.30 and last traded at $114.19. Approximately 88,353,273 shares traded hands during trading, a decline of 68% from the average daily volume of 276,296,656 shares. The stock had previously closed at $117.30.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of analyst reports. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research note on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $171.69.

NVIDIA Price Performance

The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $131.66 and a two-hundred day moving average price of $131.63. The stock has a market capitalization of $2.75 trillion, a P/E ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the 3rd quarter valued at about $27,000. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter valued at about $34,000. West Financial Advisors LLC purchased a new position in shares of NVIDIA during the 3rd quarter valued at about $36,000. Finally, Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at about $38,000. 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.