NVIDIA (NASDAQ:NVDA) Stock Price Target Lowered at Barclays

NVIDIA (NASDAQ:NVDA) had its price objective lowered by Barclays from $275.00 to $210.00 in a research note released on Friday morning, Marketbeat.com reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. Sanford C. Bernstein set a $200.00 target price on shares of NVIDIA and gave the company a “market perform” rating in a research note on Thursday. HSBC raised their price target on shares of NVIDIA from $360.00 to $365.00 in a research note on Thursday, August 27th. StoneX cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and lowered their price target for the stock from $346.00 to $174.00 in a report on Thursday. Finally, Evercore lowered shares of NVIDIA from an “outperform” rating to a “positive” rating and set a $186.00 price objective for the company. in a research report on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $277.89.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $3.34 during trading on Friday, hitting $162.85. 363,372,273 shares of the company were exchanged, compared to its average volume of 196,617,360. NVIDIA has a fifty-two week low of $148.80 and a fifty-two week high of $243.37. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $214.64 and a 200 day moving average price of $204.12. The stock has a market capitalization of $3.92 trillion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.28 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same quarter last year, the business posted $1.05 earnings per share. NVIDIA’s revenue was up 105.9% compared to the same quarter last year. On average, equities analysts expect that NVIDIA will post 9.29 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Monday, September 28th that authorizes the company to buy back $150 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA’s dividend payout ratio is presently 12.64%.

Insider Buying and Selling

In related news, Director Mark Stevens sold 622,239 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the sale, the director directly owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the transaction, the chief financial officer directly owned 765,103 shares of the company’s stock, valued at $167,595,812.15. This trade represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. Insiders own 3.94% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Boyd Wealth Management LLC increased its holdings in shares of NVIDIA by 273.4% in the 2nd quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker’s stock worth $1,830,000 after buying an additional 6,696 shares during the last quarter. Ally Financial Inc. lifted its holdings in shares of NVIDIA by 10.3% during the 2nd quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker’s stock worth $34,415,000 after acquiring an additional 16,000 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of NVIDIA by 6,451.9% during the 1st quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker’s stock worth $111,134,000 after acquiring an additional 627,510 shares during the last quarter. Vanguard Capital Wealth Advisors lifted its holdings in shares of NVIDIA by 5.6% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 52,163 shares of the computer hardware maker’s stock worth $10,437,000 after acquiring an additional 2,758 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in NVIDIA by 7.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker’s stock worth $14,386,000 after acquiring an additional 4,958 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting NVIDIA

Here are a few of the latest stories about NVDA:

• Positive Sentiment: Investors will look to the November 17 earnings report for evidence that AI demand remains robust. Articles cite strong infrastructure spending and a $108 billion revenue outlook as potential supports for the business. NVIDIA earnings preview
• Negative Sentiment: Reports connecting the leadership scandal to scrutiny of possible chip diversions to China have raised risks of regulatory action and reputational damage. The allegations remain under investigation, while U.S. lawmakers are seeking testimony. Congressional scrutiny
• Negative Sentiment: HSBC downgraded NVIDIA to Hold with a $170 target, and several firms have reduced price targets. Analysts also warn that leadership uncertainty could give chip rivals more opportunity to win business. HSBC downgrade coverage

About NVIDIA

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.