Callan Family Office Boosts NVIDIA Stake Amid Strong Analyst Sentiment
Callan Family Office LLC has increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the second quarter, according to its latest SEC filing. The institutional investor now holds 1,004,009 shares of the computer hardware maker, valued at $200,892,000. NVIDIA represents 3.9% of Callan Family Office LLC's investment portfolio, making it the firm's second-largest holding.
Several other hedge funds and institutional investors have also adjusted their positions in NVIDIA. Expressive Wealth LLC grew its holdings by 0.9%, while Gambit Capital Management LLC raised its stake by 10.7%. Manhattan West Asset Management LLC boosted its position by 6.6%, and Cahill Financial Advisors Inc. increased its holdings by 2.4%. Institutional investors and hedge funds collectively own 65.27% of NVIDIA's stock.
Analysts have been bullish on NVIDIA, with several research firms issuing positive ratings and price targets. KeyCorp maintained an "overweight" rating with a $330.00 price target, while Truist Financial raised its target to $346.00. Daiwa Securities Group lowered its target to $245.00 but kept an "outperform" rating. Needham & Company LLC reiterated a "buy" rating with a $300.00 target. Overall, NVIDIA has an average "Buy" rating and a consensus target price of $321.89.
NVIDIA's stock opened at $238.90 on Tuesday, with a 52-week range of $164.27 to $240.10. The company reported strong quarterly earnings, beating estimates with $2.22 earnings per share and $96.22 billion in revenue. NVIDIA also announced a quarterly dividend of $0.25 and a $150.00 billion stock buyback plan. Despite positive sentiment, insiders have sold significant shares, with EVP Timothy S. Teter and CFO Colette Kress reducing their holdings.