Toronto Dominion Bank Has $1.68 Billion Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Toronto Dominion Bank trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 16.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,865,252 shares of the computer hardware maker’s stock after selling 2,798,146 shares during the quarter. NVIDIA accounts for approximately 3.0% of Toronto Dominion Bank’s holdings, making the stock its 6th biggest holding. Toronto Dominion Bank owned about 0.06% of NVIDIA worth $1,683,796,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Chiron Investment Management LLC increased its stake in shares of NVIDIA by 2.3% in the third quarter. Chiron Investment Management LLC now owns 111,878 shares of the computer hardware maker’s stock worth $13,586,000 after buying an additional 2,561 shares during the period. Brown Financial Advisors increased its stake in shares of NVIDIA by 16.4% in the third quarter. Brown Financial Advisors now owns 34,822 shares of the computer hardware maker’s stock worth $4,229,000 after buying an additional 4,899 shares during the period. Coldstream Capital Management Inc. increased its position in NVIDIA by 13.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 630,057 shares of the computer hardware maker’s stock valued at $78,339,000 after purchasing an additional 72,548 shares during the period. Gould Capital LLC increased its position in NVIDIA by 10.7% during the 3rd quarter. Gould Capital LLC now owns 2,563 shares of the computer hardware maker’s stock valued at $311,000 after purchasing an additional 247 shares during the period. Finally, Strait & Sound Wealth Management LLC increased its position in NVIDIA by 17.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 77,577 shares of the computer hardware maker’s stock valued at $9,421,000 after purchasing an additional 11,711 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 2.3 %

NASDAQ NVDA opened at $140.83 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.45 trillion, a P/E ratio of 55.42, a P/E/G ratio of 2.48 and a beta of 1.64. NVIDIA Co. has a one year low of $58.58 and a one year high of $153.13. The stock has a 50 day moving average price of $138.84 and a 200-day moving average price of $129.11.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Piper Sandler boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Stifel Nicolaus boosted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.63.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last quarter. Company 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.