Burr Financial Services Trims NVIDIA Stake Amid Strong Earnings and Bullish Analyst Outlook
Burr Financial Services LLC reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 2.7% during the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The institutional investor now holds 236,145 shares of the computer hardware maker, valued at $47,250,000. NVIDIA remains the largest holding in Burr Financial Services LLC’s portfolio, accounting for approximately 29.3% of its total investments.
Other large investors also adjusted their positions in NVIDIA during the same period. LightSquare Wealth Management LLC increased its stake by 0.3%, now owning 18,695 shares worth $3,741,000. Defender Capital LLC boosted its holdings by 0.7%, holding 7,534 shares valued at $1,507,000. Kooman & Associates grew its position by 0.6%, now owning 8,464 shares worth $1,694,000. Roof Eidam Maycock Peralta LLC increased its stake by 0.3%, holding 18,827 shares worth $3,767,000. Persium Advisors LLC raised its holdings by 3.5%, now owning 1,466 shares worth $293,000.
NVIDIA’s stock opened at $233.95 on Monday, with a market capitalization of $5.64 trillion. The company reported strong earnings for the quarter ending August 26th, with $2.22 earnings per share (EPS), exceeding analysts’ estimates of $2.09. Revenue for the quarter was $96.22 billion, surpassing expectations of $92.27 billion. The company also announced a quarterly dividend of $0.25, paid on October 1st, representing a $1.00 annualized dividend and a yield of 0.4%.
Analysts remain bullish on NVIDIA, with a consensus rating of “Buy” and a target price of $320.71. However, some negative sentiment persists, including concerns about export controls and potential competition from companies like Amazon and Alphabet. Despite these challenges, NVIDIA’s leadership believes its shares are undervalued, as evidenced by its recent authorization of a $150 billion share repurchase program.