NVIDIA Investor Reduces Stake Amid Bullish Sentiment

Pacific Wealth Strategies Group Inc., a significant investor in NVIDIA Corporation, has reduced its stake in the tech company by 45.6% in the first quarter. This decision was reflected in their most recent Form 13F filing with the Securities & Exchange Commission. The firm now owns 35,533 shares of NVIDIA's stock after selling 29,834 shares during the quarter.

NVIDIA accounts for approximately 3.9% of Pacific Wealth Strategies Group Inc.'s investment portfolio, making it their 7th largest holding. Their holdings in NVIDIA were valued at $6,197,000 as of their most recent filing with the Securities & Exchange Commission. Other hedge funds have also made adjustments to their positions in NVIDIA during this period.

Despite the decrease in ownership percentage, NVIDIA's stock price has been rising due to various positive factors, including Amazon's support for demand outlook and additional large-scale chip demand from Chinese AI company Moonshot. Analysts remain bullish on the stock, with reported median price targets well above the current trading level and positive earnings-estimate revisions.