NVIDIA Corporation $NVDA Stock Position Trimmed by Eastern Bank

Key Points

• Eastern Bank reduced its stake in NVIDIA Corporation by 2.6%, selling 45,346 shares, and now holds a total of 1,693,119 shares valued at approximately $183.5 million.
• NVIDIA announced a quarterly dividend of $0.01 to be paid to stockholders on October 2nd, with a 0.0% dividend yield.
• Research analysts are optimistic about NVIDIA, with a consensus of four strong buy ratings and price targets reaching $210 from various firms, indicating significant growth potential.

Eastern Bank lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,693,119 shares of the computer hardware maker's stock after selling 45,346 shares during the quarter. NVIDIA accounts for approximately 3.6% of Eastern Bank's portfolio, making the stock its 5th biggest position. Eastern Bank's holdings in NVIDIA were worth $183,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of NVIDIA during the 4th quarter worth about $50,000. LSV Asset Management acquired a new position in NVIDIA during the fourth quarter worth approximately $54,000. Kathleen S. Wright Associates Inc. increased its position in NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock worth $44,000 after buying an additional 254 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA during the first quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC increased its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

NVDA traded down $4.02 during trading on Tuesday, reaching $170.16. 35,308,890 shares of the stock were exchanged, compared to its average volume of 238,088,547. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60. The company has a market capitalization of $4.13 trillion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 1.30 and a beta of 2.10. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $184.48. The business's 50 day moving average price is $171.43 and its two-hundred day moving average price is $139.35.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. The company had revenue of $46.74 billion for the quarter, compared to analyst estimates of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.NVIDIA's revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, September 11th. NVIDIA's dividend payout ratio is currently 1.14%.

Analysts Set New Price Targets

NVDA has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on NVIDIA from $202.00 to $212.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Wedbush reissued an "outperform" rating and issued a $210.00 target price on shares of NVIDIA in a report on Thursday, August 28th. Barclays boosted their target price on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. DA Davidson boosted their target price on NVIDIA from $135.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Finally, Bank of America boosted their target price on NVIDIA from $220.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $207.69.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $179.76, for a total transaction of $13,482,000.00. Following the transaction, the chief executive officer owned 72,848,225 shares of the company's stock, valued at approximately $13,095,196,926. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,801,604 shares of company stock worth $747,046,639 over the last 90 days. Company insiders own 4.17% of the company's stock.

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.