Eastern Bank increased its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,738,465 shares of the computer hardware maker’s stock after purchasing an additional 4,497 shares during the quarter. NVIDIA comprises about 4.3% of Eastern Bank’s holdings, making the stock its 3rd largest position. Eastern Bank’s holdings in NVIDIA were worth $233,459,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Hoertkorn Richard Charles grew its stake in shares of NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC increased its stake in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC raised its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Total Wealth Planning LLC lifted its stake in NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after acquiring an additional 78 shares during the period. Finally, Boyd Watterson Asset Management LLC OH boosted its holdings in NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on NVDA shares. Citigroup raised their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Bank of America reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. HSBC dropped their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $166.23.
NVIDIA Stock Up 7.9 %
Shares of NVDA opened at $127.80 on Wednesday. The business’s 50 day moving average is $138.29 and its 200 day moving average is $129.45. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $60.70 and a 12-month high of $153.13. The company has a market capitalization of $3.13 trillion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.
Insider Buying and Selling
In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.
About NVIDIA
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.
Further Reading
- Five stocks we like better than NVIDIA
- How to Calculate Inflation Rate
- Survey Reveals: Top 150 Best Coffee Shops for Remote Workers and Business Deals [2025]
- Diversification Can Smooth Returns And Mitigate Portfolio Risk
- What Does the Future Hold for Eli Lilly?
- Options Trading – Understanding Strike Price
- Oracle Stock Drops Nearly 14% – Is Now the Time to Buy?
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.