Shares of NVIDIA Corporation have seen notable movement as various institutional investors adjust their stakes. According to recent disclosures to the Securities & Exchange Commission, Sheets Smith Wealth Management reduced its holdings in NVIDIA by 3.9% during the third quarter of 2023. The firm now owns 75,944 shares, valued at approximately $14,170,000, making NVIDIA its 10th largest position.
Other institutional entities are also modifying their investments in NVIDIA. Websterrogers Financial Advisors LLC increased its stake by 2.6%, acquiring an additional 54 shares to reach a total of 2,118 shares, worth around $395,000. Similarly, Helen Stephens Group LLC lifted its holdings by 3.9%, now owning 1,483 shares valued at approximately $277,000 after a purchase of 56 shares.
In a slightly different approach, Morton Brown Family Wealth LLC added 58 shares during the second quarter, raising its total to 3,928 shares, valued at $621,000. Roof Eidam Maycock Peralta LLC and Alpha Wealth Funds LLC have also made incremental increases to their positions in NVIDIA during the same period, showcasing a trend among investors to maintain or expand their presence in this prominent tech company.
As of now, approximately 65.27% of NVIDIA’s stock is held by hedge funds and institutional investors. The activity reflects a broader interest in NVIDIA, which has garnered attention from analysts and investors alike.
Analyst Insights and Insider Transactions
Recent analyst reports have contributed to the shifting sentiment surrounding NVIDIA. BNP Paribas Exane has raised its price target from $240.00 to $250.00, assigning an “outperform” rating. Meanwhile, HSBC has set an ambitious price target of $320.00 and rated the stock as a “buy”. In contrast, Seaport Global Securities has issued a “sell” rating with a target of $140.00.
Overall, out of the analysts covering NVIDIA, five have rated it as a Strong Buy, while forty-six have assigned a Buy rating, indicating strong market confidence. The average target price currently sits at $262.14.
In addition to institutional shifts, insider trading has also been notable. On December 15, 2023, Director Harvey C. Jones sold 250,000 shares at an average price of $177.33, amounting to a total of $44,332,500. Following this transaction, Jones retained 6,933,280 shares of NVIDIA, valued at approximately $1.23 billion. Another director, Mark A. Stevens, sold 222,500 shares on December 19, 2023, for a total of $40,087,825.
The recent insider sales reflect a significant trend, with insiders having sold 1,936,474 shares worth around $354,356,742 over the last quarter.
NVIDIA’s Market Performance and Future Outlook
NVIDIA’s stock opened at $188.85 on the Nasdaq, following a strong performance in recent months. The company’s shares have recorded a 52-week low of $86.62 and a high of $212.19. With a market capitalization of $4.59 trillion, NVIDIA continues to attract investor interest due to its robust earnings growth. The company reported earnings of $1.30 per share for the quarter ending November 19, 2023, surpassing estimates by $0.07 and showcasing a year-over-year revenue increase of 62.5%.
Furthermore, NVIDIA recently announced a quarterly dividend of $0.01 per share, reflecting its ongoing commitment to returning value to shareholders. The dividend was paid on December 26, 2023, following a record date of December 4, 2023.
As NVIDIA continues to expand its influence in the tech sector, the market will be closely watching how it navigates competitive pressures and capitalizes on growth opportunities in the rapidly evolving landscape of artificial intelligence and computing technologies.
