Eastern Bank Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Eastern Bank lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,738,465 shares of the computer hardware maker's stock after acquiring an additional 4,497 shares during the quarter. NVIDIA comprises about 4.3% of Eastern Bank's investment portfolio, making the stock its 3rd biggest holding. Eastern Bank's holdings in NVIDIA were worth $233,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock valued at $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of NVIDIA by 882.4% during the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker's stock valued at $9,098,519,000 after acquiring an additional 66,151,750 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. HSBC reduced their target price on NVIDIA from $195.00 to $185.00 and set a "buy" rating for the company in a report on Monday, January 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, January 27th. Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, Wedbush boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an "outperform" rating in a research note 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.23.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company's stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 in the last ninety days. Insiders own 4.23% of the company's stock.

NVIDIA Stock Performance

NVDA stock traded down $4.58 during mid-day trading on Friday, reaching $120.07. 387,846,098 shares of the stock traded hands, compared to its average volume of 258,365,728. The firm has a market capitalization of $2.94 trillion, a PE ratio of 47.25, a P/E/G ratio of 2.23 and a beta of 1.64. The business has a 50-day moving average of $136.58 and a two-hundred day moving average of $129.31. NVIDIA Co. has a 52 week low of $60.70 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The company's revenue was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were 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 of this dividend was Thursday, December 5th. NVIDIA's payout ratio is currently 1.57%.

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.