Manuka Financial LLC Has $15.76 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Manuka Financial LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 145,431 shares of the computer hardware maker's stock after selling 11,962 shares during the quarter. NVIDIA makes up 10.2% of Manuka Financial LLC's investment portfolio, making the stock its 3rd biggest holding. Manuka Financial LLC's holdings in NVIDIA were worth $15,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the 4th quarter worth $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter valued at about $50,000. LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter valued at about $54,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA in the first quarter valued at about $51,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,537,440 shares of company stock valued at $835,035,782 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NVIDIA stock traded up $1.90 during mid-day trading on Friday, reaching $182.67. The company's stock had a trading volume of 122,649,542 shares, compared to its average volume of 245,309,594. The firm's fifty day moving average price is $158.85 and its two-hundred day moving average price is $133.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.88. The company has a market capitalization of $4.46 trillion, a P/E ratio of 58.93, a PEG ratio of 1.58 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the firm earned $0.61 EPS. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NVDA shares. Jefferies Financial Group upped their target price on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Benchmark restated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Citigroup lifted their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Finally, Truist Financial increased their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average target price of $183.75.

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.