OneAscent Boosts NVIDIA Stake Amid Institutional Investor Interest
OneAscent Wealth Management LLC significantly boosted its investment in NVIDIA Corporation (NASDAQ:NVDA) during the second quarter, increasing its holdings by 40.4%. According to the company's latest Form 13F filing with the Securities and Exchange Commission, OneAscent Wealth Management LLC now owns 10,465 shares of NVIDIA, worth $2,094,000. This makes NVIDIA the 22nd largest position in the firm's portfolio, accounting for 0.6% of its total holdings.
Several other institutional investors also made substantial changes to their NVIDIA positions. OneAscent Family Office LLC increased its stake by 45.4%, now holding 27,837 shares valued at $5,570,000. Presper Financial Architects LLC raised its position by 6.7%, owning 1,328 shares worth $266,000. OneAscent Financial Services LLC lifted its holdings by 3.2%, now with 141,845 shares valued at $28,382,000. Greenspring Advisors LLC and TRU Independence Asset Management 2 LLC also increased their stakes by 2.6% and 15.9% respectively.
Analysts have recently adjusted their price targets for NVIDIA. Benchmark set a target of $335.00, KeyCorp at $330.00, and Truist Financial raised its target to $346.00. The consensus rating among analysts is a "Buy" with an average price target of $321.89. Despite the bullish sentiment, insiders have been selling shares. Director Mark A. Stevens sold 622,239 shares, and CFO Colette Kress sold 34,918 shares, both under pre-arranged trading plans.
NVIDIA's stock has been trading up, opening at $238.90 on Tuesday. The company reported strong quarterly earnings, beating estimates with $2.22 EPS and revenue of $96.22 billion. NVIDIA also declared a quarterly dividend of $0.25 per share and initiated a $150 billion share repurchase program. Positive sentiment surrounds the company due to strong AI demand, large GPU orders, and bullish analyst coverage.