Wed Sep 25 07:14:56 UTC 2024: ## KCM Investment Advisors Boosts NVIDIA Holdings by Nearly 900% in Q2

**New York, NY** – KCM Investment Advisors LLC significantly increased its stake in NVIDIA Corporation (NASDAQ: NVDA) during the second quarter, according to a recent filing with the Securities and Exchange Commission. The institutional investor purchased an additional 351,936 shares of the computer hardware maker’s stock, boosting its total holdings to 391,190 shares, representing an 896.6% increase.

NVIDIA now accounts for 1.7% of KCM Investment Advisors’ portfolio, making it the firm’s 10th largest position. The total value of their NVIDIA holdings is estimated at $48,328,000.

This move by KCM Investment Advisors comes as several other hedge funds have also adjusted their positions in NVIDIA. While some have acquired new positions, others have increased their holdings. Notably, Coston McIsaac & Partners increased its stake by 231.3% during the first quarter, now owning 53 shares valued at $47,000.

Overall, institutional investors and hedge funds hold a significant stake in NVIDIA, owning 65.27% of the company’s stock.

NVIDIA shares opened at $120.87 on Wednesday. The company boasts a market capitalization of $2.97 trillion, a P/E ratio of 70.68, and a PEG ratio of 1.06. Notably, NVIDIA’s board recently authorized a stock repurchase program, allowing the company to buy back $50.00 billion in shares, signaling confidence in the company’s future.

Research analysts have also been bullish on NVIDIA, with multiple firms upgrading their ratings and price targets. While some analysts remain cautious, the overall consensus is positive, with an average rating of “Moderate Buy” and a consensus price target of $142.10.

However, insider trading activity has been mixed. Director Tench Coxe sold 1,000,000 shares on September 19th, while CEO Jen Hsun Huang sold 120,000 shares in June.

This news reflects a continued positive sentiment surrounding NVIDIA, driven by its dominance in the graphics and computing markets, as well as its strong growth prospects in areas like artificial intelligence and the metaverse. The company’s stock repurchase program and bullish analyst ratings further contribute to a positive outlook. However, it is important to note the recent insider selling activity, which may indicate a mixed outlook from some within the company.

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