Thoroughbred Boosts NVIDIA Stake Amid Strong Institutional Demand
Thoroughbred Financial Services LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.8% during the second quarter, acquiring an additional 4,117 shares. The institutional investor now holds 515,426 shares, with NVIDIA representing about 4.9% of its portfolio, making it the firm's largest holding. The value of Thoroughbred's NVIDIA holdings at the end of the reporting period was $103,131,000.
Other major investors have also adjusted their positions in NVIDIA. Bank of America Corp DE raised its holdings by 2.1% in the first quarter, now owning 191,200,989 shares worth $33,345,453,000. Invesco Ltd. increased its stake by 0.3% in the fourth quarter, holding 143,239,504 shares valued at $26,714,167,000. Amundi boosted its position by 10.4% during the first quarter, now owning 133,768,018 shares worth $23,329,141,000. J. Stern & Co. LLP significantly increased its stake by 13,709.1% in the fourth quarter, holding 125,760,307 shares worth $23,454,297,000. Dimensional Fund Advisors LP grew its position by 0.6% during the first quarter, now owning 94,521,253 shares valued at $16,479,126,000.
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 S. Teter sold 30,460 shares on September 21st at an average price of $222.80, totaling $6,786,488.00. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans. Over the last three months, insiders have sold 1,766,118 shares valued at $399,450,353.
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 reported $2.22 earnings per share for the quarter, beating estimates by $0.13. Revenue for the quarter was $96.22 billion, up 105.9% year-over-year. The board authorized a $150 billion share repurchase plan and declared a quarterly dividend of $0.25, representing a $1.00 annualized dividend and a 0.4% yield.