Legacy Capital Group California Inc. Has $2.74 Million Position in NVIDIA Corporation $NVDA

Key Points

• Legacy Capital Group California Inc. cut its NVIDIA stake by 84.6% in the first quarter, selling 86,289 shares and ending with 15,702 shares worth about $2.74 million.
• Institutional ownership of NVIDIA remains high at 65.27%, with several large funds recently adding to positions, even as some investors reduced exposure.
• NVIDIA continues to post strong operating results and shareholder returns, with the latest quarter showing EPS of $1.87 on $81.61 billion in revenue, alongside an $80 billion share repurchase program and a higher quarterly dividend.

Legacy Capital Group California Inc. lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 84.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,702 shares of the computer hardware maker's stock after selling 86,289 shares during the period. NVIDIA accounts for about 1.0% of Legacy Capital Group California Inc.'s portfolio, making the stock its 11th largest position. Legacy Capital Group California Inc.'s holdings in NVIDIA were worth $2,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $62,244,133,000. J. Stern & Co. LLP raised its stake in shares of NVIDIA by 13,709.1% in the fourth quarter. J. Stern & Co. LLP now owns 125,760,307 shares of the computer hardware maker's stock worth $23,454,297,000 after acquiring an additional 124,849,603 shares during the last quarter. Cardano Risk Management B.V. lifted its position in shares of NVIDIA by 896.4% during the fourth quarter. Cardano Risk Management B.V. now owns 78,123,960 shares of the computer hardware maker's stock worth $14,570,119,000 after purchasing an additional 70,283,539 shares in the last quarter. Capital Research Global Investors lifted its position in shares of NVIDIA by 16.1% during the third quarter. Capital Research Global Investors now owns 165,377,852 shares of the computer hardware maker's stock worth $30,855,564,000 after purchasing an additional 22,896,705 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in shares of NVIDIA by 15,496.1% during the second quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker's stock valued at $3,454,534,000 after purchasing an additional 21,725,326 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Stephen C. Neal sold 15,500 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total value of $3,343,815.00. Following the completion of the transaction, the director owned 116,135 shares of the company's stock, valued at $25,053,803.55. The trade was a 11.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 625 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total transaction of $133,750.00. Following the completion of the sale, the director owned 14,163 shares of the company's stock, valued at approximately $3,030,882. This represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,901,125 shares of company stock worth $410,583,015. Company insiders own 3.94% of the company's stock.

NVIDIA News Summary

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA announced a joint AI research lab with KAIST in Seoul, a $300 million collaboration that will fund researchers, internships, and AI infrastructure to advance agentic AI in South Korea. NVIDIA and KAIST Launch Joint AI Research Lab to Accelerate AI Innovation in Korea
• Positive Sentiment: The company also struck a $1.5 billion partnership with Amkor to expand advanced semiconductor packaging and test capacity in the U.S., reinforcing NVIDIA’s AI supply chain and manufacturing footprint. Nvidia, Amkor strike $1.5 billion chip packaging deal
• Positive Sentiment: Jensen Huang and NVIDIA joined Microsoft, Meta, and others in publicly backing open-source AI models, which could support broader AI adoption and future demand for NVIDIA GPUs. Nvidia, Microsoft and other tech giants back open-source AI models
• Positive Sentiment: Several technical reports say NVDA is holding support and may be forming a bullish inverse head-and-shoulders pattern, while other analysts point to a breakout above the 50-day moving average as a possible catalyst. NVIDIA Corp. (NVDA) Price Forecast: Can NVDA Break Above Key Resistance?
• Neutral Sentiment: Institutional filings show continued buying from some funds, but insider activity remains dominated by sales, which keeps sentiment mixed rather than decisively bullish. Fund Update: 337,821 NVIDIA (NVDA) shares added to COMGEST GLOBAL INVESTORS S.A.S. portfolio
• Negative Sentiment: Broader semiconductor shares have pulled back as investors take profits and worry about AI valuation levels and heavy capex spending, which has weighed on NVIDIA along with the rest of the AI trade. Semiconductor Crossroads: Healthy Consolidation or Deeper Repricing?
• Negative Sentiment: News flow also highlights investor rotation out of the biggest AI winners and concerns that the “Magnificent 7” are digesting a surge in AI infrastructure spending, creating near-term pressure on NVDA despite strong long-term demand. Magnificent 7 stocks shed hundreds of billions amid AI spending fears

Analysts Set New Price Targets

A number of analysts recently weighed in on NVDA shares. William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Tuesday, June 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of NVIDIA in a report on Tuesday, June 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $285.00 price objective (up from $250.00) on shares of NVIDIA in a research report on Wednesday, May 20th. Wall Street Zen cut NVIDIA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Finally, Wolfe Research restated an "outperform" rating and set a $275.00 target price on shares of NVIDIA in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $304.26.

NVIDIA Stock Performance

Shares of NVDA stock opened at $206.84 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. The stock has a market cap of $5.01 trillion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 0.41 and a beta of 2.21. The stock has a 50-day moving average of $207.85 and a 200-day moving average of $195.81. NVIDIA Corporation has a one year low of $164.07 and a one year high of $236.54.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business had revenue of $81.61 billion for the quarter, compared to the consensus estimate of $78.42 billion. During the same period last year, the company posted $0.81 EPS. NVIDIA's revenue for the quarter was up 85.2% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Corporation will post 8.79 earnings per share for the current year.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, May 20th that allows the company to repurchase $80.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This is a boost from NVIDIA's previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a yield of 0.5%. NVIDIA's payout ratio is currently 15.31%.

About NVIDIA

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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