NVIDIA (NASDAQ:NVDA) Trading Down 1% – Should You Sell?

NVIDIA Corporation (NASDAQ:NVDA) shares traded down 1% during trading on Wednesday . The company traded as low as $179.11 and last traded at $179.59. 161,753,569 shares were traded during trading, a decline of 28% from the average session volume of 225,533,375 shares. The stock had previously closed at $181.46.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVDA. Truist Financial increased their price objective on NVIDIA from $228.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Evercore ISI set a $352.00 price target on NVIDIA and gave the company an “outperform” rating in a research report on Thursday, November 20th. Weiss Ratings restated a “buy (b)” rating on shares of NVIDIA in a research report on Monday. Benchmark lifted their price target on NVIDIA from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, KeyCorp increased their target price on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $258.65.

NVIDIA Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The stock has a market capitalization of $4.36 trillion, a P/E ratio of 44.56, a PEG ratio of 0.89 and a beta of 2.29. The business has a 50-day moving average price of $186.88 and a 200 day moving average price of $171.35.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $177.57, for a total value of $13,317,750.00. Following the completion of the transaction, the chief executive officer owned 72,248,366 shares of the company’s stock, valued at approximately $12,829,142,350.62. The trade was a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the sale, the director directly owned 7,399,803 shares in the company, valued at approximately $1,305,251,251.17. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,012,203 shares of company stock worth $542,065,894 over the last quarter. 4.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Strategic Investment Solutions Inc. IL increased its position in shares of NVIDIA by 7.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 19,937 shares of the computer hardware maker’s stock valued at $3,720,000 after purchasing an additional 1,412 shares during the last quarter. Crosspoint Financial LLC grew its position in shares of NVIDIA by 1.6% during the third quarter. Crosspoint Financial LLC now owns 3,737 shares of the computer hardware maker’s stock worth $697,000 after purchasing an additional 60 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in NVIDIA by 5.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,508,387 shares of the computer hardware maker’s stock worth $1,587,495,000 after purchasing an additional 427,202 shares in the last quarter. Steadtrust LLC boosted its stake in NVIDIA by 99.7% in the 3rd quarter. Steadtrust LLC now owns 4,872 shares of the computer hardware maker’s stock worth $909,000 after purchasing an additional 2,432 shares during the period. Finally, Stillwater Wealth Management Group purchased a new position in shares of NVIDIA in the third quarter worth $5,020,000. 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.