Eastern Bank Has $37.07 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Eastern Bank grew its position in NVIDIA Co. (NASDAQ:NVDA) by 41.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,846 shares of the computer hardware maker’s stock after buying an additional 21,936 shares during the period. NVIDIA makes up 1.7% of Eastern Bank’s portfolio, making the stock its 11th largest position. Eastern Bank’s holdings in NVIDIA were worth $37,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA in the 4th quarter valued at $28,000. Peoples Financial Services CORP. bought a new stake in NVIDIA in the 3rd quarter valued at $30,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA in the 3rd quarter valued at $30,000. Quarry LP bought a new stake in NVIDIA in the 1st quarter valued at $34,000. Finally, Compass Wealth Management LLC bought a new stake in NVIDIA in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. Wolfe Research boosted their price objective on shares of NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Morgan Stanley boosted their price target on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price target on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Raymond James boosted their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. Finally, UBS Group boosted their price target on shares of NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $874.15 on Wednesday. The company’s 50 day moving average price is $838.10 and its two-hundred day moving average price is $616.90. NVIDIA Co. has a 12-month low of $262.25 and a 12-month high of $974.00. The firm has a market cap of $2.19 trillion, a PE ratio of 73.21, a PEG ratio of 1.27 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. Equities research analysts predict that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is 1.34%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,278 shares of company stock worth $52,689,898. Corporate insiders own 3.99% 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.