Manuka Financial LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Manuka Financial LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 157,393 shares of the computer hardware maker’s stock, valued at approximately $21,136,000. NVIDIA comprises about 14.3% of Manuka Financial LLC’s investment portfolio, making the stock its 3rd biggest position.

Several other large investors also recently modified their holdings of NVDA. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the fourth quarter worth approximately $34,000. West Financial Advisors LLC bought a new stake in NVIDIA in the third quarter worth approximately $36,000. Finally, Luken Investment Analytics LLC acquired a new position in NVIDIA in the fourth quarter valued at approximately $40,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Bank of America lifted their price target on shares of NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI upped their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.62.

NVIDIA Stock Performance

Shares of NVDA stock opened at $120.15 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $134.39 and a 200 day moving average of $131.81. The firm has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.76 and a beta of 1.62. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.57%.

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.