Keebeck Wealth Management Boosts NVIDIA Stake by 11 Percent
Keebeck Wealth Management increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 11.0% during the second quarter, according to its latest Form 13F filing with the SEC. The firm now holds 136,521 shares of the computer hardware maker, after acquiring an additional 13,566 shares. NVIDIA represents approximately 2.7% of Keebeck Wealth Management's investment portfolio, making it the fifth-largest holding. As of the most recent reporting period, the value of Keebeck Wealth Management's NVIDIA holdings was $27,317,000.
Several other institutional investors also adjusted their positions in NVIDIA during the second quarter. Thoroughbred Financial Services LLC raised its stake by 0.8%, now owning 515,426 shares worth $103,131,000. Blue Capital Inc. boosted its position by 6.3%, holding 11,615 shares valued at $2,324,000. Keating Financial Advisory Services Inc. increased its stake by 2.1%, now owning 159,579 shares worth $31,930,000. Alaska Wealth Advisors LLC raised its holdings by 21.5%, now owning 12,603 shares valued at $2,522,000. Beckerman Institutional LLC initiated a new position in NVIDIA valued at $1,503,000.
In related news, insiders sold significant shares of NVIDIA stock in recent transactions. Director Mark A. Stevens sold 622,239 shares at an average price of $231.62, totaling $144,122,997.18. Following the sale, Stevens owned 2,336,531 shares valued at $541,187,310.22, representing a 21.03% decrease in his position. EVP Timothy S. Teter sold 30,460 shares at an average price of $222.80, totaling $6,786,488.00. After the sale, Teter owned 2,687,660 shares valued at approximately $598,810,648, a 1.12% decrease in his position. Over the last quarter, insiders sold 1,766,118 shares of company stock valued at $399,450,353.
Analysts have recently updated their price targets for NVIDIA. Royal Bank Of Canada raised its target price to $330.00 with an "outperform" rating. Raymond James Financial set a target price of $515.00 with a "strong-buy" rating. Itau BBA Securities reduced its target price to $218.00. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating. Evercore set a price target of $465.00 with an "outperform" rating. According to MarketBeat.com, NVIDIA has a consensus rating of "Buy" and a consensus target price of $321.89. The company's stock opened at $238.90 on Tuesday, with a fifty-two week range of $164.27 to $240.10.