TD Asset Management Inc. Increases Position in NVIDIA Corporation (NVDA)
TD Asset Management Inc. increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 246,832 shares of the computer hardware maker’s stock after buying an additional 1,590 shares during the period. TD Asset Management Inc.’s holdings in NVIDIA Corporation were worth $35,682,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of NVDA. Quadrant Capital Group LLC raised its stake in shares of NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after buying an additional 157 shares during the period. TB Alternative Assets Ltd. bought a new stake in shares of NVIDIA Corporation during the second quarter worth about $116,000. Proficio Capital Partners LLC raised its stake in shares of NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares during the period. Coconut Grove Bank raised its stake in shares of NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 1,060 shares during the period. Finally, Founders Capital Management raised its stake in shares of NVIDIA Corporation by 25.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the computer hardware maker’s stock worth $145,000 after buying an additional 200 shares during the period. 68.91% of the stock is owned by institutional investors.
NVIDIA Corporation (NASDAQ:NVDA) opened at 172.11 on Thursday. NVIDIA Corporation has a 12 month low of $57.32 and a 12 month high of $174.56. The stock’s 50 day moving average is $159.41 and its 200-day moving average is $126.75. The firm has a market capitalization of $102.41 billion, a price-to-earnings ratio of 57.77 and a beta of 1.24.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $0.46 EPS. The firm’s quarterly revenue was up 48.7% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on the stock. Vetr raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 target price for the company in a research note on Thursday, May 4th. Stifel Nicolaus lifted their target price on shares of NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of NVIDIA Corporation in a research note on Friday, May 19th. Royal Bank Of Canada reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA Corporation in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised shares of NVIDIA Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $136.64.
In other news, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $164.53, for a total value of $8,226,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harvey C. Jones sold 145,520 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the completion of the sale, the director now owns 30,762 shares in the company, valued at $4,900,694.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 572,282 shares of company stock worth $86,830,082. 5.82% of the stock is currently owned by corporate insiders.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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