Manchester Financial Inc. Sells 473 Shares of NVIDIA Co. (NASDAQ:NVDA)

Manchester Financial Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,613 shares of the computer hardware maker’s stock after selling 473 shares during the quarter. NVIDIA comprises approximately 2.2% of Manchester Financial Inc.’s holdings, making the stock its 10th biggest holding. Manchester Financial Inc.’s holdings in NVIDIA were worth $7,732,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after acquiring an additional 16,835,703 shares in the last quarter. Morgan Stanley lifted its holdings in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of NVIDIA by 55.7% during the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock valued at $3,240,769,000 after acquiring an additional 2,740,850 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVDA. Truist Financial lifted their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a report on Monday, March 18th. Craig Hallum lifted their price target on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Piper Sandler lifted their price target on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,100.00 price target on shares of NVIDIA in a research note on Tuesday, February 20th. Finally, Piper Sandler Companies lifted their price target on shares of NVIDIA to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $926.30.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 in the last ninety days. Company insiders own 3.99% of the company’s stock.

NVIDIA Trading Down 2.5 %

NVIDIA stock opened at $860.01 on Tuesday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $834.27 and a two-hundred day moving average price of $613.81. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 72.03, a PEG ratio of 1.27 and a beta of 1.73. NVIDIA Co. has a 52-week low of $262.25 and a 52-week high of $974.00.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. NVIDIA’s revenue was up 265.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. Sell-side analysts expect that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

NVIDIA 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.