Mill Creek Capital Advisors LLC Cuts Stake in NVIDIA Corporation $NVDA

Mill Creek Capital Advisors LLC trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 19.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,807 shares of the computer hardware maker’s stock after selling 6,176 shares during the period. Mill Creek Capital Advisors LLC’s holdings in NVIDIA were worth $4,627,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NVDA. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at about $62,244,133,000. Cardano Risk Management B.V. grew its position in NVIDIA by 896.4% during the 4th quarter. Cardano Risk Management B.V. now owns 78,123,960 shares of the computer hardware maker’s stock valued at $14,570,119,000 after purchasing an additional 70,283,539 shares during the last quarter. Capital Research Global Investors grew its position in NVIDIA by 16.1% during the 3rd quarter. Capital Research Global Investors now owns 165,377,852 shares of the computer hardware maker’s stock valued at $30,855,564,000 after purchasing an additional 22,896,705 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 15,496.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker’s stock valued at $3,454,534,000 after acquiring an additional 21,725,326 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of NVIDIA during the 3rd quarter valued at about $3,180,313,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $182.25, for a total value of $54,675,000.00. Following the transaction, the executive vice president owned 3,018,547 shares of the company’s stock, valued at approximately $550,130,190.75. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 42,650 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $174.89, for a total transaction of $7,459,058.50. Following the completion of the transaction, the chief financial officer directly owned 881,387 shares in the company, valued at approximately $154,145,772.43. The trade was a 4.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,619,457 shares of company stock valued at $332,073,643 in the last 90 days. 3.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NVIDIA in a report on Monday, June 8th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a report on Tuesday, June 2nd. Wedbush raised their price target on shares of NVIDIA from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $330.00 price target on shares of NVIDIA in a report on Thursday, May 21st. Finally, BTIG Research assumed coverage on shares of NVIDIA in a report on Wednesday, April 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $305.67.

More NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA said it plans to raise about $20 billion through its first U.S. investment-grade bond offering since 2021. Investors appear to view the move as a sign of confidence in future cash flows and a way to fund massive AI-chip and infrastructure investments without stressing the balance sheet. Reuters article
• Positive Sentiment: The bond-sale news also reinforced the view that demand for NVIDIA’s AI hardware remains extremely strong, since the company is tapping debt markets to help meet capital needs tied to its AI leadership. CNBC article
• Positive Sentiment: Shares also benefited from a broader semiconductor and tech rally, with chip stocks and AI names trading strongly after improved market sentiment and reports of easing geopolitical tensions. 247WallSt article

NVIDIA Stock Performance

NVDA opened at $212.45 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.14 trillion, a price-to-earnings ratio of 32.53, a PEG ratio of 0.46 and a beta of 2.22. The company’s 50 day moving average is $207.54 and its 200 day moving average is $191.65. NVIDIA Corporation has a 12-month low of $142.03 and a 12-month high of $236.54.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. The company had revenue of $81.62 billion for the quarter, compared to the consensus estimate of $78.42 billion. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The firm’s revenue was up 85.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 8.65 EPS for the current year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, May 20th that permits the company to buyback $80.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. NVIDIA’s payout ratio is 15.31%.

NVIDIA Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.