NVIDIA (NASDAQ:NVDA) Shares Down 6.7% – Time to Sell?

NVIDIA Co. (NASDAQ:NVDA) shares dropped 6.7% during mid-day trading on Friday . The company traded as low as $92.11 and last traded at $95.02. Approximately 184,113,955 shares traded hands during trading, a decline of 41% from the average daily volume of 312,387,726 shares. The stock had previously closed at $101.80.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NVDA shares. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, February 20th. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Mizuho cut their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Bank of America reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $169.89.

NVIDIA Price Performance

The business’s 50-day simple moving average is $121.20 and its 200 day simple moving average is $131.07. The company has a market capitalization of $2.30 trillion, a P/E ratio of 37.12, a P/E/G ratio of 1.76 and a beta of 1.96. 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 quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend 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 stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP grew its stake in NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after acquiring an additional 9,944 shares during the period. Palisade Asset Management LLC grew its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares in the last quarter. SMART Wealth LLC increased its holdings in NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares during the last quarter. Blue Square Asset Management LLC raised its holdings in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in shares of NVIDIA by 29.6% in the fourth quarter. Wealthspire Advisors LLC now owns 174,896 shares of the computer hardware maker’s stock valued at $23,487,000 after buying an additional 39,944 shares during the last quarter. 65.27% of the stock is owned by 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.