NVIDIA Attracts Record Investment Amid Robust Earnings Growth
NVIDIA Corporation's stock has been making headlines after several institutional investors increased their stakes in the company. One of the notable investors is Independent Financial Group LLC, which boosted its stake in NVIDIA by 48% in the second quarter.
The company now owns 1,712,464 shares of NVIDIA's stock, valued at $342,647,000 as of its most recent filing with the Securities and Exchange Commission. This represents a significant portion of Independent Financial Group LLC's portfolio, making NVIDIA its 2nd largest position, accounting for approximately 6.4% of its holdings.
Other investors, including Lifetime Wealth Management P.C., Longview Financial Advisors Inc., and Spurstone Advisory Services LLC, also purchased new stakes in NVIDIA during the quarter, while Longfellow Investment Management Co. increased its holdings by 47.9%. The company's stock has been on a roll after its fiscal Q2 results exceeded expectations, with revenue up 106% year-over-year to $96.2 billion.
Management guided to roughly $108 billion in fiscal Q3 revenue and indicated that sales could grow about 70% in fiscal 2028. Several analysts raised their price targets following the results, including Wedbush, Truist, RBC, and JPMorgan.