NVIDIA Corporation $NVDA Stock Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its NVIDIA stake by 7.1% in the third quarter, adding 368,049 shares to hold 5.56 million shares valued at about $1.29 billion.
• Institutional investors own 65.27% of NVIDIA shares; other large holders, including State Street and Bank of America, also increased their positions.
• NVIDIA reported quarterly revenue of $96.22 billion and EPS of $2.22, both above analyst expectations, and approved a $150 billion share-repurchase plan.

TD Waterhouse Canada Inc. boosted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,564,890 shares of the computer hardware maker's stock after purchasing an additional 368,049 shares during the period. NVIDIA comprises 3.4% of TD Waterhouse Canada Inc.'s holdings, making the stock its 4th largest position. TD Waterhouse Canada Inc.'s holdings in NVIDIA were worth $1,286,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. State Street Corp boosted its stake in shares of NVIDIA by 1.6% during the 2nd quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker's stock worth $202,047,568,000 after acquiring an additional 15,897,836 shares during the period. Bank of America Corp DE increased its holdings in shares of NVIDIA by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock worth $39,090,956,000 after acquiring an additional 4,165,875 shares during the last quarter. Amundi raised its stake in NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker's stock valued at $23,329,141,000 after acquiring an additional 12,575,177 shares during the period. Dimensional Fund Advisors LP raised its stake in NVIDIA by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker's stock valued at $16,479,126,000 after acquiring an additional 555,221 shares during the period. Finally, Deutsche Bank AG raised its stake in NVIDIA by 2.3% in the 2nd quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker's stock valued at $18,399,108,000 after acquiring an additional 2,045,101 shares during the period. Institutional investors own 65.27% of the company's stock.

Latest NVIDIA News

Investors following NVDA have been watching these news items:

• Positive Sentiment: Some investors see the selloff as an opportunity: retail traders reportedly bought about $111 million of NVDA in the first 30 minutes of trading. Bullish commentary points to NVIDIA’s established AI business and continuing infrastructure demand. Article: Huang Exit Fuels Nvidia Bulls
• Neutral Sentiment: Kress’s experience as CFO and the board’s assurance that customer commitments and the product roadmap will continue provide some operational continuity, though she is serving only on an interim basis. NVIDIA’s fiscal Q3 report on Nov. 17 is the next key test for demand, guidance and confidence in the transition. Article: Colette Kress named interim CEO
• Negative Sentiment: Several analysts downgraded the stock or cut price targets, citing leadership, governance and China-related risks. A securities class action adds another source of uncertainty for shareholders. Article: Nvidia Stock Just Got Downgraded

Wall Street Analyst Weigh In

NVDA has been the subject of several research reports. HSBC raised their price target on NVIDIA from $360.00 to $365.00 in a report on Thursday, August 27th. Rothschild & Co Redburn upped their price objective on shares of NVIDIA from $300.00 to $325.00 in a report on Thursday, August 27th. New Street Research reissued a "buy" rating on shares of NVIDIA in a report on Thursday. Stifel Nicolaus set a $205.00 price target on NVIDIA and gave the company a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on NVIDIA from $280.00 to $320.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average price target of $283.63.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 622,239 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the transaction, the director directly owned 2,336,531 shares of the company's stock, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 34,918 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the sale, the chief financial officer directly owned 765,103 shares in the company, valued at $167,595,812.15. This trade represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,766,118 shares of company stock worth $399,450,353 over the last quarter. 3.94% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $166.19 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. The firm has a 50-day moving average of $215.96 and a 200-day moving average of $204.25. NVIDIA Corporation has a one year low of $148.80 and a one year high of $243.37. The company has a market cap of $4.01 trillion, a P/E ratio of 21.01, a P/E/G ratio of 1.34 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same period in the prior year, the firm posted $1.05 EPS. The firm's quarterly revenue was up 105.9% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post 9.29 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA's dividend payout ratio (DPR) is currently 12.64%.

NVIDIA declared that its board has approved a share repurchase plan on Monday, September 28th that permits the company to repurchase $150 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

About NVIDIA

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA's offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.

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