Fri Sep 20 09:12:51 UTC 2024: ## Conning Inc. Doubles Down on NVIDIA: Institutional Investors Show Strong Interest in Chip Giant

**New York, NY – September 20, 2024** – Conning Inc., a prominent institutional investor, has significantly increased its stake in NVIDIA Corporation (NASDAQ:NVDA), acquiring an additional 184,959 shares during the second quarter, representing an 853.8% increase in its holdings. This move reflects the growing confidence in NVIDIA’s future, fueled by the company’s dominance in the artificial intelligence and gaming sectors.

Conning’s investment, now valued at $25,526,000, is part of a broader trend of institutional investors taking a bullish stance on NVIDIA. Other prominent investors, including Lowe Wealth Advisors LLC, DHJJ Financial Advisors Ltd., FPC Investment Advisory Inc., CGC Financial Services LLC, and Koesten Hirschmann & Crabtree INC. also acquired or significantly increased their positions in NVIDIA during recent quarters.

Overall, hedge funds and institutional investors currently own 65.27% of NVIDIA’s outstanding stock, demonstrating the strong belief in the company’s potential for growth.

NVIDIA’s stock opened at $117.87 on Friday, with a 1-year low of $39.23 and a 1-year high of $140.76. The company has a market capitalization of $2.90 trillion and continues to attract attention from analysts. Melius Research, Argus, Rosenblatt Securities, New Street Research, and TD Cowen all recently issued “Buy” ratings on NVIDIA, citing strong growth prospects in AI and gaming.

While NVIDIA’s stock performance has been strong, some recent insider transactions raise eyebrows. Director Mark A. Stevens sold 385,000 shares in July for $50,334,900, and CFO Colette Kress sold 100,000 shares in June for $12,085,000. This has prompted questions about their confidence in the company’s future, even amidst the positive outlook.

NVIDIA continues to invest in its growth, having recently announced a $50 billion stock repurchase program, suggesting the board believes the company’s stock is undervalued. The company also declared a quarterly dividend of $0.01, payable on October 3rd.

Despite the recent insider sales, the overall sentiment surrounding NVIDIA remains positive, driven by the company’s strong position in the rapidly growing AI and gaming industries. With institutional investors showing unwavering support, NVIDIA is well-positioned for future success.

Read More