NVIDIA Shareholder Trim's Stake, But Strong Earnings Report Boosts Investor Confidence
Salem Investment Counselors Inc., an investment firm, has trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 1.2% in the second quarter. The company sold 17,346 shares during the quarter, reducing its ownership to 1,373,183 shares of NVIDIA's stock. This represents approximately 6.8% of Salem Investment Counselors Inc.'s holdings, making NVIDIA its second-largest position.
The value of NVIDIA's shares held by Salem Investment Counselors Inc. is around $274.76 million as of the most recent reporting period. Several other large investors have also adjusted their stakes in NVDA, with some acquiring new positions and others increasing or decreasing their holdings.
NVIDIA has been a strong performer in the market, with its stock price rising after the company's recent earnings report exceeded analyst expectations. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.13. NVIDIA's revenue for the quarter was up 105.9% on a year-over-year basis.