Jennison Associates cuts its nvda stock stake by 5.2%
Jennison Associates LLC cut its NVIDIA Corporation (NASDAQ:NVDA) stake by 5.2% in the first quarter, selling 4,073,719 shares and leaving 73,978,086 shares worth about $12.9 billion, according to its latest SEC filing. The move still leaves nvda stock as the firm's largest holding, at roughly 8.9% of its portfolio.
Key Takeaways
- Jennison sold more than 4 million NVDA shares in Q1 but kept about 74 million shares valued near $12.9 billion.
- NVIDIA remains roughly 8.9% of Jennison's portfolio and about 0.30% of the company.
- Valmark Advisers and Aubrey Capital also trimmed NVDA positions in recent SEC disclosures.
- Wall Street still shows a consensus Buy rating with an average price target of $304.26.
- NVIDIA last reported $1.87 EPS and $81.61 billion in revenue, both above estimates.
What did Jennison Associates do with nvda stock?
According to a MarketBeat filing alert, Jennison Associates LLC reduced its NVIDIA stake by 5.2% during the first quarter. The fund sold 4,073,719 shares and finished the period with 73,978,086 shares.
Even after the cut, NVIDIA accounted for about 8.9% of Jennison's portfolio and remained its largest position. The filing valued the holding at roughly $12.90 billion, or about 0.30% of NVIDIA. Hedge funds and other institutional investors own 65.27% of the stock.
Are other funds also trimming NVIDIA holdings?
Yes. Separate MarketBeat alerts show more modest selling from other managers. Valmark Advisers Inc. cut its NVIDIA stake by 3.9% in the first quarter, selling 3,989 shares and leaving 98,815 shares worth about $17.2 million.
Aubrey Capital Management Ltd reduced its position by 21.1% over the same quarter, selling 4,800 shares. It retained 18,000 shares valued at about $3.14 million. NVIDIA made up 1.7% of Aubrey's portfolio and ranked as its 24th-largest holding.
Together, the filings point to selective profit-taking rather than a broad institutional exit from the AI chip leader. For more coverage of AI infrastructure and chip demand, see BlasterPost's Future Tech & AI Wonders hub.
Does the stake cut change the NVIDIA investment case?
Not on its own. MarketBeat data still shows a consensus "Buy" rating and an average price target of $304.26, with three Strong Buy, forty-eight Buy, and two Hold ratings. NVIDIA shares opened at $190.01 in the latest price snapshot cited in the Jennison alert, with a 1-year range of $164.07 to $236.54.
Fundamentals remain strong in the reported quarter. On May 20, NVIDIA posted $1.87 EPS versus a $1.76 consensus and revenue of $81.61 billion versus $78.42 billion expected, up 85.2% year over year. The board also authorized an $80 billion share repurchase program and raised the quarterly dividend to $0.25.
Investors watching nvda stock should treat the Jennison trim as portfolio housekeeping within a still-large bet, while tracking the next earnings catalyst and broader AI-capex sentiment for clearer direction.