NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Eastern Bank

Eastern Bank increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 41.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,846 shares of the computer hardware maker’s stock after purchasing an additional 21,936 shares during the quarter. NVIDIA accounts for about 1.7% of Eastern Bank’s holdings, making the stock its 11th largest holding. Eastern Bank’s holdings in NVIDIA were worth $37,065,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NVDA. Campbell Newman Asset Management Inc. grew its stake in NVIDIA by 0.6% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after acquiring an additional 18 shares during the period. Aprio Wealth Management LLC grew its stake in shares of NVIDIA by 1.8% during the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock valued at $523,000 after buying an additional 19 shares during the period. Palumbo Wealth Management LLC grew its stake in shares of NVIDIA by 0.7% during the 4th quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock valued at $1,395,000 after buying an additional 19 shares during the period. Corundum Group Inc. grew its stake in shares of NVIDIA by 0.8% during the 4th quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock valued at $1,179,000 after buying an additional 19 shares during the period. Finally, North Star Investment Management Corp. grew its stake in shares of NVIDIA by 0.3% during the 4th quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock valued at $3,463,000 after buying an additional 20 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 1.6 %

NASDAQ:NVDA opened at $874.15 on Wednesday. The firm has a market capitalization of $2.19 trillion, a PE ratio of 73.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73. The stock has a 50 day moving average of $838.10 and a 200-day moving average of $616.90. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue was up 265.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Analysts predict that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 over the last ninety days. Company insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several research reports. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Susquehanna reissued a “positive” rating and set a $1,050.00 price objective on shares of NVIDIA in a research note on Thursday, April 4th. DA Davidson boosted their price objective on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Bank of America upped their price target on shares of NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $910.00 price target on shares of NVIDIA in a research report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $940.30.

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.