NVIDIA Co. (NASDAQ:NVDA) is Manchester Financial Inc.’s 6th Largest Position

Manchester Financial Inc. lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 32.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,704 shares of the computer hardware maker’s stock after selling 3,752 shares during the quarter. NVIDIA comprises approximately 3.2% of Manchester Financial Inc.’s portfolio, making the stock its 6th biggest position. Manchester Financial Inc.’s holdings in NVIDIA were worth $4,170,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. acquired a new stake in NVIDIA in the second quarter valued at $32,000. Atlantic Trust LLC grew its holdings in NVIDIA by 46.9% in the second quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ellevest Inc. grew its holdings in NVIDIA by 256.7% in the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Avondale Wealth Management acquired a new stake in NVIDIA in the third quarter valued at $49,000. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in shares of NVIDIA during the second quarter valued at $50,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Shares of NVDA stock opened at $552.46 on Friday. NVIDIA Co. has a 1-year low of $180.68 and a 1-year high of $589.07. The company has a current ratio of 6.09, a quick ratio of 5.51 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $340.87 billion, a price-to-earnings ratio of 101.56, a P/E/G ratio of 4.10 and a beta of 1.55. The stock’s fifty day simple moving average is $521.45 and its 200-day simple moving average is $401.87.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. NVIDIA’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 6.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.12%. NVIDIA’s dividend payout ratio is 13.94%.

In other NVIDIA news, CEO Jen Hsun Huang sold 100,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $489.84, for a total value of $48,984,000.00. Following the transaction, the chief executive officer now owns 1,370,600 shares in the company, valued at $671,374,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 12,692 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $405.60, for a total value of $5,147,875.20. Following the completion of the transaction, the executive vice president now owns 61,983 shares in the company, valued at approximately $25,140,304.80. The disclosure for this sale can be found here. Insiders have sold 173,320 shares of company stock worth $87,129,970 in the last quarter. 4.47% of the stock is currently owned by corporate insiders.

NVDA has been the topic of a number of research reports. Craig Hallum raised their price objective on NVIDIA from $480.00 to $500.00 and gave the stock a “hold” rating in a report on Tuesday, September 15th. Morgan Stanley raised their price objective on NVIDIA from $380.00 to $507.00 and gave the company an “equal weight” rating in a research note on Thursday, August 20th. They noted that the move was a valuation call. Evercore ISI reiterated a “buy” rating and issued a $450.00 target price on shares of NVIDIA in a research report on Monday, July 6th. Sanford C. Bernstein raised their price target on NVIDIA from $415.00 to $545.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $405.00 to $450.00 and gave the stock a “hold” rating in a report on Thursday, August 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $521.49.

NVIDIA Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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