NVIDIA Sees Institutional Shifts and Strong Market Performance
B. Metzler seel. Sohn & Co. AG reduced its stake in NVIDIA Corporation (NASDAQ: NVDA) by 6.1% during the second quarter, selling 236,668 shares. The firm now holds 3,664,893 shares, which represent approximately 6.3% of its investment portfolio, making NVIDIA its largest holding. As of the most recent SEC filing, these holdings were valued at $733,308,000.
Other institutional investors have also adjusted their positions in NVIDIA. Bank of America Corp DE increased its stake by 2.1% during the first quarter, now owning 191,200,989 shares worth $33,345,453,000. Invesco Ltd. grew its holdings by 0.3% during the fourth quarter, holding 143,239,504 shares valued at $26,714,167,000. Amundi increased its stake by 10.4% during the first quarter, now owning 133,768,018 shares worth $23,329,141,000. J. Stern & Co. LLP saw a significant increase of 13,709.1% in the fourth quarter, now holding 125,760,307 shares valued at $23,454,297,000. Dimensional Fund Advisors LP increased its position by 0.6% in the first quarter, now owning 94,521,253 shares worth $16,479,126,000.
NVIDIA stock opened at $238.90 on Tuesday, with a market cap of $5.76 trillion. The company reported earnings of $2.22 per share for the quarter, beating estimates by $0.13. Revenue was $96.22 billion, up 105.9% year-over-year. Analysts anticipate earnings of $9.25 per share for the current year. The company also recently disclosed a quarterly dividend of $0.25, paid on October 1st, representing a dividend yield of 0.4%. NVIDIA's board approved a share buyback plan allowing the repurchase of $150.00 billion in shares.
Analysts have commented on NVDA shares, with HSBC lifting its price target to $365.00, KGI Securities to $345.00, and Phillip Securities to $300.00. The stock has an average rating of 'Buy' and a consensus target price of $321.89. Positive sentiment was reinforced by strong supplier data, large GPU orders, and bullish technical signals. However, insiders have sold shares, with EVP Timothy Teter selling 30,460 shares and Director Mark Stevens selling 622,239 shares.