Miller Financial Services LLC Lowers Holdings in NVIDIA Corporation $NVDA

Miller Financial Services LLC decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 70.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,180 shares of the computer hardware maker’s stock after selling 9,976 shares during the quarter. Miller Financial Services LLC’s holdings in NVIDIA were worth $453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Aire Advisors LLC lifted its stake in NVIDIA by 3.3% in the first quarter. Aire Advisors LLC now owns 58,790 shares of the computer hardware maker’s stock worth $6,372,000 after acquiring an additional 1,852 shares during the last quarter. Summit Wealth & Retirement Planning Inc. lifted its stake in NVIDIA by 7.6% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 10,994 shares of the computer hardware maker’s stock worth $1,192,000 after acquiring an additional 772 shares during the last quarter. RD Lewis Holdings Inc. lifted its stake in NVIDIA by 5.2% in the first quarter. RD Lewis Holdings Inc. now owns 19,447 shares of the computer hardware maker’s stock worth $2,227,000 after acquiring an additional 970 shares during the last quarter. Chancellor Financial Group WB LP lifted its stake in NVIDIA by 10.3% in the first quarter. Chancellor Financial Group WB LP now owns 32,559 shares of the computer hardware maker’s stock worth $3,529,000 after acquiring an additional 3,028 shares during the last quarter. Finally, Wealth Quarterback LLC lifted its stake in NVIDIA by 8.8% in the first quarter. Wealth Quarterback LLC now owns 19,349 shares of the computer hardware maker’s stock worth $2,097,000 after acquiring an additional 1,573 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $180.45 on Monday. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The firm’s fifty day moving average price is $163.96 and its 200 day moving average price is $135.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is 1.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James Financial lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. Bank of America increased their target price on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Barclays increased their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.33.

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.