NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,407 shares of the computer hardware maker’s stock after selling 1,995 shares during the quarter. NVIDIA comprises approximately 1.6% of Manchester Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Manchester Capital Management LLC’s holdings in NVIDIA were worth $13,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. AMF Tjanstepension AB increased its stake in shares of NVIDIA by 2.2% in the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after acquiring an additional 169,445 shares during the last quarter. Wealth Group Ltd. increased its position in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in shares of NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares during the last quarter. Swedbank AB increased its position in shares of NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Finally, Peak Financial Management Inc. increased its position in shares of NVIDIA by 2.5% during the 3rd quarter. Peak Financial Management Inc. now owns 30,604 shares of the computer hardware maker’s stock worth $3,717,000 after purchasing an additional 744 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Bank of America raised their price objective on NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. The Goldman Sachs Group raised their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $162.00 target price (up from $152.00) on shares of NVIDIA in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Price Performance

NVDA stock opened at $115.43 on Wednesday. The business has a 50 day moving average price of $128.17 and a 200 day moving average price of $131.21. The stock has a market cap of $2.82 trillion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,449 shares of company stock valued at $11,960,727 over the last quarter. Company insiders own 4.23% 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.