TRU Independence Asset Management Boosts NVIDIA Stake Amid Strong AI Demand
TRU Independence Asset Management 2 LLC increased its stake in NVIDIA Corporation (NASDAQ: NVDA) by 15.9% during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission. The firm now holds 19,974 shares, worth approximately $3,997,000, making NVIDIA about 2.2% of its investment portfolio. Several other institutional investors also adjusted their positions in NVIDIA, with Lifetime Wealth Management, Longview Financial Advisors, Langley Wealth Management, Phillip James Consulting, and Frankly Finances all acquiring new stakes in the company.
NVIDIA’s stock has been on a strong upward trajectory, supported by robust demand for AI servers and data-center spending. Foxconn reported record monthly revenue, driven by AI server demand, while AM Intelligence announced firm orders for 20,000 NVIDIA Rubin GPUs for AI factories in India and Malaysia. Analysts remain bullish, highlighting NVIDIA’s central role in AI, robotics, and physical AI, with a consensus price target of $321.89.
The company’s financial performance has been impressive, with a 105.9% year-over-year revenue increase in the latest quarter, exceeding analyst expectations. NVIDIA also declared a quarterly dividend of $0.25 and authorized a $150 billion stock buyback program, indicating confidence in its valuation. Despite this optimism, insiders have been selling shares, with EVP Timothy S. Teter and CFO Colette Kress both reducing their holdings in recent transactions.
NVIDIA’s stock opened at $238.90 on Tuesday, with a market cap of $5.76 trillion and a P/E ratio of 30.20. The company’s strong financials and strategic investments in AI startups like Reflection AI continue to bolster its ecosystem and developer support. Analysts from Benchmark, HSBC, and UBS have reiterated their buy ratings, with price targets ranging from $300 to $365.