BetterWealth LLC has reduced its holdings in NVIDIA Corporation (NASDAQ: NVDA) by an astounding 54.3% during the third quarter of 2023, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 10,265 shares during this period, the institutional investor now holds 8,649 shares of the semiconductor giant, accounting for approximately 0.4% of its total portfolio, making NVIDIA its 24th largest holding.
At the close of the most recent reporting period, BetterWealth’s stake in NVIDIA was valued at around $1.614 million. This significant divestment has not gone unnoticed, as several other institutional investors have also adjusted their positions in NVIDIA.
Changes Among Other Institutional Investors
Western Financial Corp CA has entered the fray, acquiring a new position in NVIDIA valued at approximately $1.837 million during the same quarter. Meanwhile, Moss Adams Wealth Advisors LLC has boosted its holdings in NVIDIA by 2.8%, now owning 77,180 shares worth about $14.401 million after purchasing an additional 2,088 shares.
Saxony Capital Management LLC has increased its position by 0.3%, bringing its total to 31,038 shares valued at around $5.791 million. Christensen King & Associates Investment Services Inc. also raised its stake by 5.8%, now holding 14,225 shares valued at $2.654 million. In a notable move, Capital Advisors Inc. OK expanded its holdings by 18.8%, acquiring an additional 227,910 shares to hold a total of 1,441,604 shares, valued at approximately $252.45 million. Currently, institutional investors and hedge funds collectively own 65.27% of NVIDIA’s stock.
NVIDIA’s Market Position and Analyst Insights
The recent changes in ownership come amidst a flurry of news affecting NVIDIA. Analysts have expressed positive sentiment due to the $52–$56 billion capital expenditure plan announced by TSMC for 2026, which validates the ongoing demand for AI GPUs. This anticipated growth supports NVIDIA’s multi-year data center total addressable market (TAM). Furthermore, various analysts have upgraded their ratings on NVIDIA, with Jefferies setting a target price of $275.
Despite some positive indicators, challenges loom. The introduction of a 25% tariff on certain advanced computing chips shipped to China could impact margins and price competitiveness. Moreover, reports indicate that China is drafting new purchase regulations that could create uncertainty in the demand for NVIDIA’s products.
In terms of insider trading, recent disclosures show that CFO Colette Kress sold shares this week, prompting caution among investors regarding insider confidence, despite a generally bullish outlook for NVIDIA’s future.
NVIDIA’s stock has shown fluctuations; it opened at $186.54 recently, representing a 0.3% decline. The company’s market capitalization stands at $4.53 trillion, with a price-to-earnings (PE) ratio of 46.29 and a price-to-earnings-growth (PEG) ratio of 0.91.
NVIDIA’s earnings report on November 19, 2023 revealed an earnings per share (EPS) of $1.30, outperforming the consensus estimate of $1.23. The company reported revenues of $57.01 billion, exceeding analyst expectations of $54.66 billion, marking a year-over-year increase of 62.5%.
The firm has also declared a quarterly dividend of $0.01, which was paid out on December 26, 2023, reflecting a modest annualized yield of 0.0%.
As NVIDIA navigates these market dynamics, its ability to maintain growth in a competitive landscape remains a focal point for investors and analysts alike.
