NVIDIA (NASDAQ:NVDA) Stock Price Down 0.6% – Time to Sell?

NVIDIA Co. (NASDAQ:NVDA) shares were down 0.6% on Wednesday . The stock traded as low as $106.79 and last traded at $109.47. Approximately 59,008,798 shares traded hands during trading, a decline of 81% from the average daily volume of 312,749,638 shares. The stock had previously closed at $110.15.

Wall Street Analyst Weigh In

Several analysts have commented on NVDA shares. Bank of America reissued a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, DA Davidson lowered their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.89.

NVIDIA Stock Down 7.8 %

The firm has a market cap of $2.48 trillion, a price-to-earnings ratio of 40.06, a PEG ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business’s 50-day moving average is $122.16 and its 200-day moving average is $131.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. On average, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock worth $22,642,615 in the last quarter. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Versant Capital Management Inc increased its stake in shares of NVIDIA by 116.0% in the 1st quarter. Versant Capital Management Inc now owns 60,279 shares of the computer hardware maker’s stock valued at $6,533,000 after acquiring an additional 32,374 shares during the last quarter. Boston Common Asset Management LLC increased its stake in NVIDIA by 11.5% in the first quarter. Boston Common Asset Management LLC now owns 367,869 shares of the computer hardware maker’s stock valued at $39,870,000 after purchasing an additional 38,003 shares in the last quarter. Adirondack Trust Co. raised its holdings in NVIDIA by 5.5% in the first quarter. Adirondack Trust Co. now owns 90,506 shares of the computer hardware maker’s stock worth $9,809,000 after purchasing an additional 4,728 shares during the period. First Citizens Financial Corp boosted its position in shares of NVIDIA by 7.3% during the first quarter. First Citizens Financial Corp now owns 7,072 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 482 shares in the last quarter. Finally, Insight Wealth Strategies LLC raised its stake in NVIDIA by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 33,728 shares of the computer hardware maker’s stock worth $3,655,000 after buying an additional 126 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.