Oarsman Capital Increases Stake in NVIDIA as Institutional Interest Grows

Oarsman Capital Inc. has increased its stake in NVIDIA Corporation (NASDAQ: NVDA) by 1.7% during the second quarter of 2024, according to Holdings Channel. The institutional investor now holds 66,290 shares of the well-known computer hardware manufacturer, having purchased an additional 1,121 shares during this period. This investment represents approximately 1.6% of Oarsman Capital’s total holdings, making NVIDIA its 15th largest position. At the close of the most recent reporting period, the value of Oarsman Capital’s holdings in NVIDIA stood at $10,473,000.

Several other institutional investors have also adjusted their positions in NVIDIA recently. Kingstone Capital Partners Texas LLC made a significant increase, boosting its stake by an astonishing 267,959.7% during the same quarter. As a result, Kingstone now owns 382,373,765 shares valued at approximately $64.98 billion after acquiring an additional 382,231,120 shares.

Nuveen LLC established a new position in NVIDIA valued at $15,089,414,000 in the first quarter. Additionally, Goldman Sachs Group Inc. expanded its stake by 123.5%, bringing its total to 187,995,213 shares, worth around $20.37 billion. Amundi also increased its holdings by 16.0%, now owning 135,770,043 shares valued at $13.83 billion. Strs Ohio rounded out the list by purchasing a new stake worth $1.16 billion. Overall, institutional investors and hedge funds now control 65.27% of NVIDIA’s stock.

NVIDIA’s Market Performance and Dividend Announcement

On the trading front, shares of NVIDIA opened at $177.82 on Wednesday. The stock has experienced fluctuations, with a fifty-day moving average price of $186.62 and a 200-day moving average price of $169.66. Over the past year, NVIDIA’s stock has shown a low of $86.62 and a high of $212.19. The company currently holds a market capitalization of $4.32 trillion, with a price-to-earnings (P/E) ratio of 50.66 and a beta of 2.11.

Recently, NVIDIA announced a quarterly dividend of $0.01, scheduled to be paid on December 26, 2024. Shareholders of record as of December 4, 2024 will be eligible for this dividend, equating to an annualized payout of $0.04 and a yield of 0.0%. The company’s payout ratio currently sits at 0.99%.

Insider Trading and Analyst Insights

In related news, NVIDIA’s CEO, Jen Hsun Huang, sold 75,000 shares of the company’s stock on September 10, 2024, at an average price of $177.57, totaling $13,317,750. Following this transaction, he directly owns 72,248,366 shares, valued at approximately $12.83 billion. This sale represented a 0.10% decrease in his ownership.

Additionally, Director Harvey C. Jones sold 250,000 shares on September 18, 2024, for around $44,052,500, reducing his holdings by 3.36% to 7,183,280 shares valued at about $1.27 billion. Over the past 90 days, insiders have sold a total of 3,251,577 shares worth $583,143,187, with company insiders holding 4.17% of the total stock.

Investment analysts have issued various reports on NVIDIA, with Seaport Global Securities raising their price target from $100.00 to $140.00 while maintaining a “sell” rating. Conversely, Mizuho increased its target from $235.00 to $245.00, rating the stock as “outperform.” Other notable analysts, including Jefferies Financial Group and BNP Paribas Exane, have also adjusted their targets upward, with Jefferies setting a new target of $250.00 and BNP Paribas Exane at $250.00 as well. Currently, NVIDIA holds a consensus rating of “Buy” with a target price of $258.19 according to MarketBeat.

NVIDIA Corporation, headquartered in the United States, provides advanced graphics, compute, and networking solutions globally, including in Taiwan, China, and Hong Kong. Its product offerings encompass GeForce GPUs for gaming, the GeForce NOW game streaming service, and a variety of enterprise graphics solutions.