Asahi Life Trims NVIDIA Stake as Insiders Sell Shares
Asahi Life Asset Management CO. LTD. reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 5.6% during the second quarter, selling 2,716 shares. The firm now holds 45,848 shares, which represent approximately 5.2% of its portfolio, making NVIDIA its third-largest holding. The value of Asahi Life’s holdings in NVIDIA was $9,174,000 at the end of the quarter.
Other institutional investors also adjusted their positions in NVIDIA. Financial Alternatives Inc increased its holdings by 24.9%, while MSH Capital Advisors LLC grew its stake by 55.6%. Strategic Equity Management and Edmond DE Rothschild Holding S.A. also boosted their positions, with the latter increasing its holdings by 17.9%. Hedge funds and other institutional investors collectively own 65.27% of NVIDIA’s stock.
In related news, NVIDIA’s CFO Colette Kress sold 34,918 shares on September 17th at an average price of $219.05, totaling $7,648,787.90. Director Mark A. Stevens sold 622,239 shares on September 4th at $231.62 each, amounting to $144,122,997.18. Insiders have sold 1,766,118 shares worth $399,450,353 over the past three months, reducing their ownership to 3.94% of the company’s stock.
Analysts have maintained a bullish outlook on NVIDIA, with consensus ratings leaning towards 'Buy' and an average price target of $320.71. NVIDIA’s stock opened at $233.95 on October 1st, with a market capitalization of $5.64 trillion and a PE ratio of 29.58. The company recently announced a $150 billion share buyback plan and declared a quarterly dividend of $0.25 per share.