NVIDIA Holds Steady Despite Reduced Stake by Major Investor
NVIDIA Corporation (NASDAQ:NVDA) has been a favorite among institutional investors and hedge funds. Montecito Bank & Trust, for example, reduced its position in NVIDIA by 5.5% in the second quarter, but still holds approximately 4.8% of its holdings, making it the company's second-largest holding.
The value of Montecito Bank & Trust's holdings in NVIDIA was $31.76 million at the end of the most recent quarter. Other investors, such as Brighton Jones LLC and Bank Pictet & Cie Europe AG, increased their stakes in NVIDIA during the fourth quarter, with Brighton Jones growing its position by 12.4%.
NVIDIA's stock performance has been strong, with a twelve-month high of $236.54 and a market cap of over $5 trillion. The company reported fiscal Q2 revenue of approximately $96.2 billion, up 106% year-over-year, and adjusted EPS of $2.22, exceeding consensus estimates.
The results reinforced that hyperscaler AI spending remains robust, with NVIDIA guiding to roughly $108 billion in fiscal Q3 revenue and indicating that fiscal 2028 sales could grow about 70%. Several analysts have raised their price targets for NVIDIA following the results, including Wedbush, Truist, RBC, and JPMorgan.