Miller Financial Services LLC Sells 9,976 Shares of NVIDIA Corporation $NVDA

Miller Financial Services LLC reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 70.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

A number of other hedge funds have also added to or reduced their stakes in NVDA. Brighton Jones LLC increased its holdings in shares of NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after acquiring an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after buying an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE boosted its position in shares of NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after buying an additional 3,653 shares during the last quarter. Hudson Value Partners LLC boosted its position in shares of NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock valued at $6,805,000 after buying an additional 11,900 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $3,188,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm’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 completion of the sale, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James Financial lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Truist Financial boosted their target price on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group assumed coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

NVIDIA Stock Down 0.9%

NVDA stock opened at $180.45 on Monday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $184.48. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14. The company has a 50 day moving average of $163.96 and a two-hundred day moving average of $135.52.

NVIDIA (NASDAQ:NVDA) last released 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). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 EPS. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

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.