Manuka Financial LLC Invests $21.14 Million in NVIDIA Co. (NASDAQ:NVDA)

Manuka Financial LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 157,393 shares of the computer hardware maker’s stock, valued at approximately $21,136,000. NVIDIA comprises 14.3% of Manuka Financial LLC’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 4th quarter worth approximately $34,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter valued at approximately $36,000. Finally, Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $40,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the company’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 completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,107,632 shares of company stock worth $146,405,286. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

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

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates 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. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. TD Cowen lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Melius Research upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $169.62.

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.