Peddock Capital Advisors Trims Stake in NVIDIA Corporation

Peddock Capital Advisors LLC recently disclosed its reduced stake in NVIDIA Corporation (NASDAQ:NVDA) in a filing with the Securities and Exchange Commission. The institutional investor sold 30,016 shares during the second quarter, trimming its holding by 8.5%. As of June 2023, Peddock Capital Advisors LLC's holdings in NVIDIA were valued at $64.91 million.

NVIDIA accounts for approximately 13% of Peddock Capital Advisors LLC's portfolio, making it the firm's largest holding. The company reported quarterly revenue of $96.22 billion, exceeding analysts' expectations by 5%. Its Board of Directors has authorized a stock repurchase program allowing the company to repurchase up to $80 billion in outstanding shares.

Analysts predict NVIDIA will post earnings per share of $9.12 for the current year. The company's quarterly dividend payment is scheduled for October 1st, with shareholders receiving $0.25 per share. NVIDIA's payout ratio stands at 12.64%.