NVIDIA Co. (NASDAQ:NVDA) is Toronto Dominion Bank’s 4th Largest Position

Toronto Dominion Bank lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 820.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,663,398 shares of the computer hardware maker’s stock after buying an additional 14,852,480 shares during the period. NVIDIA makes up about 3.3% of Toronto Dominion Bank’s portfolio, making the stock its 4th largest position. Toronto Dominion Bank’s holdings in NVIDIA were worth $2,058,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter worth $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Piper Sandler restated an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, DA Davidson restated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Up 0.8 %

NVDA opened at $141.54 on Monday. The business’s fifty day simple moving average is $124.25 and its 200 day simple moving average is $114.45. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.48 trillion, a PE ratio of 82.77, a P/E/G ratio of 1.52 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,636,270 shares of company stock valued at $305,367,927 over the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.