V. M. Manning & CO. Inc. Purchases New Shares in NVIDIA Corporation $NVDA

Key Points

• V. M. Manning & CO. Inc. acquired a new position of 260,222 shares of NVIDIA in Q2 (≈$45.4M), making NVDA roughly 51.1% of the firm's investment portfolio and its largest holding.
• NVIDIA beat Q3 expectations with EPS $1.30 vs. $1.23 expected and revenue of $57.01B vs. $54.66B, marking a 62.5% year-over-year revenue increase and very strong profitability (net margin 53.01%).
• Brokerages have been raising targets (e.g., Barclays to $275, Jefferies to $250) leaving a consensus "Buy" rating with an average price target of $258.65, while insiders sold about 2.75M shares (~$499.6M) over the past 90 days.

V. M. Manning & CO. Inc. acquired a new position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 260,222 shares of the computer hardware maker's stock, valued at approximately $45,397,000. NVIDIA makes up approximately 51.1% of V. M. Manning & CO. Inc.'s investment portfolio, making the stock its biggest position.

A number of other institutional investors have also recently bought and sold shares of NVDA. Q3 Asset Management bought a new stake in shares of NVIDIA in the second quarter valued at approximately $207,000. American Trust grew its holdings in shares of NVIDIA by 28.0% during the 2nd quarter. American Trust now owns 58,268 shares of the computer hardware maker's stock worth $9,206,000 after purchasing an additional 12,736 shares in the last quarter. PVG Asset Management Corp grew its holdings in shares of NVIDIA by 15.8% during the 2nd quarter. PVG Asset Management Corp now owns 5,817 shares of the computer hardware maker's stock worth $919,000 after purchasing an additional 793 shares in the last quarter. Evolution Wealth Management Inc. bought a new position in shares of NVIDIA in the second quarter worth $1,074,000. Finally, Prospera Capital Management LLC raised its stake in NVIDIA by 0.8% in the second quarter. Prospera Capital Management LLC now owns 20,960 shares of the computer hardware maker's stock valued at $3,312,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Up 0.7%

NASDAQ NVDA opened at $176.29 on Tuesday. The company has a market cap of $4.28 trillion, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $212.19. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The business's fifty day moving average is $186.51 and its 200 day moving average is $174.35.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.07. The business had revenue of $57.01 billion during the quarter, compared to analysts' expectations of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business's revenue for the quarter was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA's dividend payout ratio is 0.99%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVDA. Barclays increased their price objective on shares of NVIDIA from $240.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, November 20th. S&P Equity Research reissued a "positive" rating on shares of NVIDIA in a research note on Wednesday, October 22nd. DZ Bank restated a "buy" rating on shares of NVIDIA in a research report on Thursday, November 20th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $250.00 target price (up previously from $240.00) on shares of NVIDIA in a report on Thursday, November 20th. Finally, Craig Hallum boosted their price target on NVIDIA from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $258.65.

Insider Buying and Selling at NVIDIA

In other news, EVP Debora Shoquist sold 80,000 shares of NVIDIA stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $184.65, for a total transaction of $14,772,000.00. Following the transaction, the executive vice president owned 1,574,443 shares in the company, valued at approximately $290,720,899.95. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $182.34, for a total value of $13,675,500.00. Following the completion of the sale, the chief executive officer owned 71,158,203 shares of the company's stock, valued at $12,974,986,735.02. The trade was a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,754,474 shares of company stock worth $499,562,617 over the last ninety days. Insiders own 4.17% 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.

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