TD Private Client Wealth LLC Increases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• TD Private Client Wealth LLC increased its holdings in NVIDIA by 2.7%, now owning 244,638 shares valued at approximately $26.5 million, making NVIDIA the firm's 27th biggest holding.
• Recent insider trading revealed that EVP Ajay K. Puri sold 168,195 shares for over $25.6 million, while CEO Jen Hsun Huang sold 75,000 shares totaling around $11.4 million.
• Wall Street analysts largely maintain a positive outlook, with 33 analysts assigning a buy rating and a consensus target price of $182.03 for NVIDIA's stock.

TD Private Client Wealth LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 244,638 shares of the computer hardware maker's stock after purchasing an additional 6,542 shares during the quarter. NVIDIA makes up about 0.7% of TD Private Client Wealth LLC's investment portfolio, making the stock its 27th largest holding. TD Private Client Wealth LLC's holdings in NVIDIA were worth $26,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at about $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the fourth quarter valued at about $50,000. LSV Asset Management purchased a new stake in shares of NVIDIA in the fourth quarter worth about $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the first quarter worth about $51,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on NVDA. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Benchmark reissued a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Phillip Securities raised NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Price Performance

Shares of NVDA stock traded down $4.15 during midday trading on Friday, reaching $173.72. 203,669,565 shares of the company traded hands, compared to its average volume of 153,436,048. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm's 50 day simple moving average is $155.30 and its two-hundred day simple moving average is $132.32. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. The firm has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the business earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Company insiders own 4.17% of the company's stock.

NVIDIA 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.