TD Asset Management Inc Buys 26,301,336 Shares of NVIDIA Co. (NASDAQ:NVDA)

TD Asset Management Inc grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 851.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,389,478 shares of the computer hardware maker’s stock after buying an additional 26,301,336 shares during the period. NVIDIA accounts for 3.4% of TD Asset Management Inc’s investment portfolio, making the stock its 3rd largest holding. TD Asset Management Inc owned about 0.12% of NVIDIA worth $3,630,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NVDA. Consolidated Planning Corp increased its position in shares of NVIDIA by 825.9% during the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after purchasing an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC grew its stake in NVIDIA by 1,452.1% during the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after buying an additional 7,028 shares during the last quarter. Lafayette Investments Inc. increased its position in NVIDIA by 901.8% during the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after buying an additional 5,140 shares during the period. BSN CAPITAL PARTNERS Ltd grew its position in NVIDIA by 51.4% during the 2nd quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after purchasing an additional 141,930 shares during the last quarter. Finally, BLB&B Advisors LLC raised its stake in NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Truist Financial upped their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the sale, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the transaction, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,077,403 shares of company stock valued at $486,699,184 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 1.7 %

NVIDIA stock opened at $124.92 on Friday. 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 firm has a 50-day moving average price of $116.26 and a two-hundred day moving average price of $109.35. The firm has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 73.05, a PEG ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About NVIDIA

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.