Somerville Kurt F Trims NVIDIA Stake Amid Mixed Institutional Activity
Somerville Kurt F reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 6.1% during the second quarter, selling 7,553 shares. The firm now holds 117,234 shares, with NVIDIA making up 5.6% of its portfolio, ranking as the third-largest holding. The value of Somerville Kurt F's NVIDIA holdings stood at $23,457,000 at the end of the quarter.
Other institutional investors also adjusted their positions in NVIDIA. Boyd Wealth Management LLC increased its holdings by 273.4%, now owning 9,145 shares worth $1,830,000. Altshuler Shaham Ltd boosted its stake by 6,451.9%, holding 637,236 shares valued at $111,134,000. Storen Legacy Partners LLC initiated a new position worth about $1,350,000, while Baker Tilly Wealth Management LLC increased its stake by 7.4%, now owning 71,898 shares valued at $14,386,000. Arrowstreet Capital Limited Partnership boosted its position by 3.6%, holding 26,652,420 shares worth $4,970,704,000.
In related news, NVIDIA's CFO Colette Kress sold 34,918 shares on September 17th at an average price of $219.05, totaling $7,648,787.90. EVP Timothy Teter sold 30,460 shares on September 21st at $222.80 each, amounting to $6,786,488. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans. Over the last ninety days, insiders sold 1,766,118 shares worth $399,450,353.
Analysts remain bullish on NVIDIA, with Morgan Stanley naming it a top semiconductor pick and setting a $300 price target. Barclays estimates NVIDIA could generate $401 billion in hyperscaler revenue by 2027. However, concerns include potential shifts in institutional positioning, export-control risks, and competitive threats from companies like Alphabet.