NVIDIA Sees Significant Institutional Buying Amid Revenue Growth
NVIDIA Corporation (NASDAQ:NVDA) saw its stock holdings boosted by several hedge funds in recent quarters, including CoreCap Advisors LLC and Diversified Enterprises LLC.
In the second quarter, CoreCap Advisors LLC increased its stake in NVIDIA by 1.6%, purchasing an additional 3,775 shares for a total of $48,643,000, which represents approximately 1.4% of its investment portfolio.
This is part of a larger trend in which several major hedge funds have been increasing their exposure to NVIDIA stock. For example, Diversified Enterprises LLC boosted its stake in the company by 44.2% in the fourth quarter, purchasing an additional 39,129 shares for $23,798,000.
NVIDIA has seen significant growth in recent years, with its quarterly revenue up 85.2% year-over-year to $81.61 billion. The company's board of directors recently authorized a stock repurchase program allowing it to buy back up to $80.00 billion in shares, and NVIDIA also declared a quarterly dividend of $0.25 per share, an increase from its previous quarterly dividend.