Toronto Dominion Bank Acquires 7,469,532 Shares of NVIDIA Co. (NASDAQ:NVDA)

Toronto Dominion Bank lifted its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 53.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,334,784 shares of the computer hardware maker's stock after acquiring an additional 7,469,532 shares during the quarter. NVIDIA accounts for approximately 4.5% of Toronto Dominion Bank's investment portfolio, making the stock its 2nd largest holding. Toronto Dominion Bank owned approximately 0.09% of NVIDIA worth $2,865,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVDA. Suvretta Capital Management LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at about $24,274,000. Scissortail Wealth Management LLC increased its holdings in NVIDIA by 113,240.7% in the 4th quarter. Scissortail Wealth Management LLC now owns 30,602 shares of the computer hardware maker's stock worth $4,110,000 after buying an additional 30,575 shares during the period. Sculptor Capital LP increased its holdings in NVIDIA by 43.4% in the 4th quarter. Sculptor Capital LP now owns 476,000 shares of the computer hardware maker's stock worth $63,922,000 after buying an additional 144,000 shares during the period. Second Line Capital LLC increased its holdings in NVIDIA by 65.1% in the 4th quarter. Second Line Capital LLC now owns 31,792 shares of the computer hardware maker's stock worth $4,269,000 after buying an additional 12,530 shares during the period. Finally, Sender Co & Partners Inc. increased its holdings in NVIDIA by 398.9% in the 4th quarter. Sender Co & Partners Inc. now owns 8,501 shares of the computer hardware maker's stock worth $1,142,000 after buying an additional 6,797 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup reiterated a "buy" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Susquehanna reiterated a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. TD Cowen increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Benchmark restated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Stock Up 2.6%

Shares of NVIDIA stock traded up $3.61 on Tuesday, reaching $140.99. 76,226,909 shares of the company were exchanged, compared to its average volume of 283,360,310. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The company has a market cap of $3.45 trillion, a P/E ratio of 55.49, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock's 50 day moving average price is $115.95 and its 200-day moving average price is $126.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last 90 days. 4.17% of the stock is owned by insiders.

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.