OneAscent Reduces NVIDIA Stake as Insiders Sell Shares
OneAscent Investment Solutions LLC reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 33.7% in the second quarter, selling 5,367 shares to bring its total holding down to 10,572 shares. The investment firm's position in NVIDIA now represents approximately 2% of its portfolio, making it the sixth-largest holding. The value of OneAscent's NVIDIA shares at the end of the quarter was $2,115,000.
Other institutional investors have also adjusted their stakes in NVIDIA. Lifetime Wealth Management P.C. purchased a new position worth $26,000 in the fourth quarter, while Longview Financial Advisors Inc. and Langley Wealth Management LLC acquired stakes valued at $27,000 and $34,000, respectively, in the first and second quarters. Phillip James Consulting Co. and Frankly Finances LLC also initiated positions worth $40,000 and $60,000, respectively, in the second quarter. Overall, institutional investors and hedge funds own 65.27% of NVIDIA's stock.
Insider activity at NVIDIA has been notable, with EVP Timothy Teter selling 30,460 shares on September 21st at an average price of $222.80, totaling $6,786,488. Following the sale, Teter still owns 2,687,660 shares valued at $598,810,648. Director Mark Stevens sold 622,239 shares on September 4th at an average price of $231.62, for a total of $144,122,997.18. Stevens now owns 2,336,531 shares worth approximately $541,187,310.22. Insiders have collectively sold 1,766,118 shares worth $399,450,353 over the last quarter, with insiders owning 3.94% of the stock.
NVIDIA's stock opened at $238.90 on Tuesday, with a 50-day moving average of $219.59 and a 200-day moving average of $208.05. The company's market capitalization stands at $5.76 trillion, and it has a P/E ratio of 30.20 and a PEG ratio of 1.81. NVIDIA reported strong quarterly earnings on August 26th, with EPS of $2.22, beating estimates by $0.13, and revenue of $96.22 billion, exceeding expectations of $92.27 billion. The company also announced a $150 billion share repurchase plan and declared a quarterly dividend of $0.25, paid on October 1st.
Analysts have maintained a bullish outlook on NVIDIA, with Phillip Securities raising its price target to $300 and BMO Capital Markets setting a target of $340. The stock currently has an average rating of 'Buy' with a consensus target price of $321.89. Positive sentiment surrounding NVIDIA includes strong supplier data, large GPU orders, and continued bullish analyst coverage, reinforcing its central role in AI and other advanced technologies.