NVIDIA Sees Significant Institutional Investment Amid Record-Breaking Results
NVIDIA Corporation (NASDAQ:NVDA) has seen significant institutional investment in recent quarters. Burney Co., a financial institution, revealed that it had increased its holdings in NVIDIA by 17.6% in the second quarter, according to its Form 13F filing with the SEC.
The company now owns 408,265 shares of NVIDIA's stock, valued at $81,690,000 as of its most recent SEC filing. This accounts for about 2.2% of Burney Co.'s holdings, making it their 6th largest position.
Other institutional investors and hedge funds have also made significant changes to their positions in NVIDIA. Longview Financial Advisors Inc. and Phillip James Consulting Co. both purchased new stakes in the company during the first quarter, while Longfellow Investment Management Co. LLC increased its holdings by 47.9% during the second quarter.
NVIDIA has reported record-breaking results, exceeding analyst estimates with a fiscal Q2 revenue of $96.22 billion, up 106% year over year. The company's non-GAAP EPS was $2.22, and gross margin remained at 75%. NVIDIA also announced a share buyback plan that allows the company to repurchase up to 1.5% of its shares through open market purchases.