Stocks: NVIDIA Corporation (NVDA) Shares Down 0.5% Following Analyst Downgrade

Stocks: NVIDIA Corporation (NVDA)  Shares Down 0.5%  Following Analyst Downgrade

NVIDIA Corporation (NASDAQ:NVDA) was down 0.5% on Thursday after S&P Equity Research lowered their price target on the stock from $90.00 to $24.75. The stock traded as low as $108.69 and last traded at $108.75, with a volume of 31,550,099 shares changing hands. The stock had previously closed at $109.25.

Other equities research analysts have also recently issued research reports about the company. RBC Capital Markets increased their price objective on NVIDIA Corporation to $95.00 in a report on Friday, November 11th. B. Riley reiterated a “buy” rating and issued a $73.00 price objective on shares of NVIDIA Corporation in a report on Tuesday, September 13th. Nomura reiterated a “buy” rating and issued a $62.50 price objective on shares of NVIDIA Corporation in a report on Monday, September 12th. Vetr cut NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $68.19 price objective for the company. in a report on Thursday, September 15th. Finally, MKM Partners increased their price objective on NVIDIA Corporation from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $79.29.

In related news, Director A Brooke Seawell sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $87.74, for a total value of $3,070,900.00. Following the completion of the sale, the director now owns 41,213 shares in the company, valued at $3,616,028.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Miller sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $98.74, for a total value of $987,400.00. Following the completion of the sale, the director now owns 40,912 shares of the company’s stock, valued at approximately $4,039,650.88. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Columbus Circle Investors raised its stake in shares of NVIDIA Corporation by 22.2% in the second quarter. Columbus Circle Investors now owns 1,087,665 shares of the computer hardware maker’s stock worth $51,131,000 after buying an additional 197,299 shares during the last quarter. Trinity Street Asset Management LLP raised its stake in shares of NVIDIA Corporation by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock worth $26,483,000 after buying an additional 342,092 shares during the last quarter. Geneva Advisors LLC raised its stake in shares of NVIDIA Corporation by 176.9% in the third quarter. Geneva Advisors LLC now owns 41,145 shares of the computer hardware maker’s stock worth $2,819,000 after buying an additional 26,285 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of NVIDIA Corporation by 3.0% in the third quarter. Prudential Financial Inc. now owns 807,170 shares of the computer hardware maker’s stock worth $55,307,000 after buying an additional 23,712 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of NVIDIA Corporation by 543.4% in the third quarter. Victory Capital Management Inc. now owns 153,164 shares of the computer hardware maker’s stock worth $10,495,000 after buying an additional 129,357 shares during the last quarter. Hedge funds and other institutional investors own 84.11% of the company’s stock.

The stock’s 50 day moving average price is $96.52 and its 200 day moving average price is $68.98. The stock has a market capitalization of $57.53 billion, a PE ratio of 54.54 and a beta of 1.29.

NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.37. The business earned $2 billion during the quarter, compared to the consensus estimate of $1.69 billion. NVIDIA Corporation had a net margin of 19.52% and a return on equity of 26.82%. The business’s revenue was up 53.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Equities research analysts expect that NVIDIA Corporation will post $2.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Monday, November 28th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, November 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.52%. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.12. NVIDIA Corporation’s dividend payout ratio (DPR) is currently 29.32%.

About NVIDIA Corporation

NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.

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