NVIDIA Co. (NASDAQ:NVDA – Get Free Report) shares fell 3.6% on Friday . The company traded as low as $102.88 and last traded at $103.40. 124,200,891 shares were traded during mid-day trading, a decline of 72% from the average session volume of 441,227,500 shares. The stock had previously closed at $107.21.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on NVDA. Truist Financial raised their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Bank of America reiterated a “buy” rating and set a $165.00 price target on shares of NVIDIA in a research note on Thursday. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI lifted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Citigroup lifted their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.
Get Our Latest Analysis on NVDA
NVIDIA Stock Down 4.8 %
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 2.6 EPS for the current year.
NVIDIA Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.
NVIDIA declared that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold 3,755,633 shares of company stock valued at $459,889,922 over the last three months. 4.23% of the stock is owned by company insiders.
Hedge Funds Weigh In On NVIDIA
Hedge funds have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft lifted its holdings in NVIDIA by 34.9% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after acquiring an additional 11,445 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in NVIDIA by 16.3% in the fourth quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after acquiring an additional 1,724 shares during the last quarter. Shared Vision Wealth Group LLC bought a new position in NVIDIA in the fourth quarter worth about $269,000. Grand Alliance Asset Management Ltd bought a new position in NVIDIA in the fourth quarter worth about $29,961,000. Finally, OMNI 360 Wealth Inc. bought a new position in NVIDIA in the fourth quarter worth about $240,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Company Profile
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.
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