NVIDIA (NASDAQ:NVDA) Shares Down 1.4% – Time to Sell?

Shares of NVIDIA Co. (NASDAQ:NVDA) dropped 1.4% during trading on Friday . The stock traded as low as $135.43 and last traded at $135.46. Approximately 60,977,960 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 384,769,031 shares. The stock had previously closed at $137.34.

Analysts Set New Price Targets

A number of research analysts have weighed in on NVDA shares. The Goldman Sachs Group increased their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Stifel Nicolaus raised their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Finally, Mizuho boosted their price target on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

The company has a 50-day moving average of $139.57 and a 200 day moving average of $126.41. The firm has a market cap of $3.29 trillion, a P/E ratio of 53.31, a P/E/G ratio of 2.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,556,986 shares of company stock worth $188,359,199. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Brass Tax Wealth Management Inc. boosted its stake in NVIDIA by 53.0% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,845 shares of the computer hardware maker’s stock worth $346,000 after acquiring an additional 985 shares during the last quarter. Legacy Wealth Management LLC MS grew its position in shares of NVIDIA by 60.5% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 42,765 shares of the computer hardware maker’s stock valued at $5,193,000 after purchasing an additional 16,115 shares during the period. SPX Gestao de Recursos Ltda boosted its holdings in shares of NVIDIA by 3.7% in the third quarter. SPX Gestao de Recursos Ltda now owns 128,063 shares of the computer hardware maker’s stock valued at $15,552,000 after buying an additional 4,523 shares during the period. Alternative Investment Advisors LLC. increased its holdings in NVIDIA by 15.0% during the 3rd quarter. Alternative Investment Advisors LLC. now owns 19,571 shares of the computer hardware maker’s stock worth $2,377,000 after purchasing an additional 2,547 shares in the last quarter. Finally, DGS Capital Management LLC grew its holdings in shares of NVIDIA by 3.6% in the 3rd quarter. DGS Capital Management LLC now owns 78,760 shares of the computer hardware maker’s stock valued at $9,565,000 after acquiring an additional 2,751 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.