NVIDIA (NASDAQ:NVDA) Stock Price Down 2.9% – Should You Sell?

NVIDIA Co. (NASDAQ:NVDA)’s share price traded down 2.9% during trading on Thursday . The company traded as low as $125.28 and last traded at $127.51. 161,288,782 shares changed hands during trading, a decline of 39% from the average session volume of 263,774,719 shares. The stock had previously closed at $131.28.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Monday. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $135.00 price objective on shares of NVIDIA in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.62.

NVIDIA Stock Performance

The firm has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.76 and a beta of 1.62. The stock’s 50 day moving average price is $134.60 and its two-hundred day moving average price is $131.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $38.16 billion. On average, analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,107,632 shares of company stock valued at $146,405,286. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently bought and sold shares of NVDA. Azzad Asset Management Inc. ADV boosted its holdings in shares of NVIDIA by 0.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 251,368 shares of the computer hardware maker’s stock valued at $33,756,000 after purchasing an additional 1,275 shares during the last quarter. Omnia Family Wealth LLC boosted its holdings in NVIDIA by 3.5% in the fourth quarter. Omnia Family Wealth LLC now owns 24,082 shares of the computer hardware maker’s stock valued at $3,234,000 after acquiring an additional 813 shares during the last quarter. Landaas & Co. WI ADV grew its position in NVIDIA by 6.6% during the fourth quarter. Landaas & Co. WI ADV now owns 6,830 shares of the computer hardware maker’s stock valued at $917,000 after acquiring an additional 420 shares during the period. KMT Wealth Management LLC acquired a new stake in NVIDIA during the fourth quarter worth about $302,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of NVIDIA in the 4th quarter worth about $32,297,000. 65.27% of the stock is currently 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.