Advisors Capital Management Boosts NVIDIA Stake by 4.5%

Advisors Capital Management LLC has increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 4.5% during the second quarter, according to a recent SEC filing. The fund now holds 1,271,599 shares of the computer hardware company, valued at approximately $254.4 million. This investment represents about 2.7% of Advisors Capital Management LLC's portfolio, making NVIDIA its fourth-largest holding.

Several other institutional investors have also adjusted their positions in NVIDIA. For instance, Lifetime Wealth Management P.C. initiated a new position worth around $26,000 in the fourth quarter. Longview Financial Advisors Inc. and Phillip James Consulting Co. acquired new stakes in the first quarter, valued at approximately $27,000 and $40,000, respectively. Additionally, Frankly Finances LLC and Lam Group Inc. bought new stakes during the second and first quarters, worth around $60,000 and $77,000, respectively. Institutional investors and hedge funds collectively own 65.27% of NVIDIA's stock.

Analysts have recently issued optimistic reports on NVIDIA. KeyCorp reiterated an "overweight" rating with a $330.00 price target, while HSBC raised its price objective to $365.00. China Renaissance increased its target price to $330.00, and JPMorgan Chase & Co. lifted its target to $320.00. UBS Group set a $300.00 price target. The consensus rating among analysts is a "Buy" with a target price of $320.71.

NVIDIA's stock performance and financial health remain strong. The company reported earnings per share of $2.22 for the latest quarter, exceeding estimates by $0.13. Revenue for the quarter was $96.22 billion, up 105.9% year-over-year. NVIDIA also declared a quarterly dividend of $0.25, paid on October 1st, representing an annualized dividend yield of 0.4%. The company's board approved a share repurchase program permitting the repurchase of up to $150 billion in outstanding shares.