Eastern Bank Sells 66,775 Shares of NVIDIA Corporation $NVDA

Key Points

• Eastern Bank reduced its NVIDIA stake by 4.2%, selling 66,775 shares and retaining 1,508,047 shares valued at approximately $344.4 million. NVIDIA remains the bank’s second-largest holding, representing 5.2% of its portfolio.
• NVIDIA reported quarterly earnings and revenue above analyst expectations, with revenue up 105.9% year over year and a 63.66% net margin. Institutional investors own 65.27% of the company, while analysts maintain a broadly bullish “Buy” consensus with an average price target of $321.47.
• The company authorized a $150 billion share-repurchase program and maintains a quarterly dividend, but insiders sold approximately $399.5 million of stock in the latest quarter. Shares were recently trading at $216, below the 50-day moving average but above the 200-day average.

Eastern Bank cut its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,508,047 shares of the computer hardware maker's stock after selling 66,775 shares during the quarter. NVIDIA accounts for 5.2% of Eastern Bank's holdings, making the stock its 2nd biggest position. Eastern Bank's holdings in NVIDIA were worth $344,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Retirement Wealth Solutions LLC increased its stake in NVIDIA by 1.2% in the second quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock valued at $825,000 after purchasing an additional 47 shares in the last quarter. LightSquare Wealth Management LLC raised its holdings in NVIDIA by 0.3% in the second quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock worth $3,741,000 after purchasing an additional 49 shares during the period. Defender Capital LLC. raised its holdings in NVIDIA by 0.7% in the second quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock worth $1,507,000 after purchasing an additional 50 shares during the period. Kooman & Associates boosted its position in shares of NVIDIA by 0.6% during the second quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock worth $1,694,000 after purchasing an additional 50 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC boosted its position in shares of NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker's stock worth $3,767,000 after purchasing an additional 50 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 2.4%

Shares of NVDA stock opened at $216.00 on Tuesday. NVIDIA Corporation has a 12-month low of $164.27 and a 12-month high of $243.37. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $222.48 and a 200-day moving average of $203.56. The company has a market capitalization of $5.21 trillion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.62 and a beta of 2.22.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating the consensus estimate of $2.09 by $0.13. The business had revenue of $96.22 billion for the quarter, compared to analysts' expectations of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm's revenue was up 105.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. As a group, equities research analysts predict that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a yield of 0.5%. NVIDIA's payout ratio is presently 12.64%.

NVIDIA declared that its board has authorized a stock repurchase program on Monday, September 28th that permits the company to buy back $150 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

More NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: SpaceX reportedly committed up to $40 billion in financing for NVIDIA’s Vera Rubin processors, with deliveries expected in 2027. SpaceX’s plans to build at least 10 gigawatts of computing capacity could create substantial long-term demand for NVIDIA hardware. Elon Musk and SpaceX Just Delivered Incredible News to Nvidia
• Positive Sentiment: Anthropic’s IPO filing highlighted approximately $224.5 billion in non-cancelable compute agreements with Amazon and Alphabet. The commitments reinforce expectations for sustained hyperscaler spending on NVIDIA GPUs and other AI infrastructure, despite Anthropic’s reported accounting-driven loss. Anthropic's IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
• Positive Sentiment: Demand indicators remain strong: GPU rental prices have risen sharply, including for older chips, while NVIDIA is expanding beyond data centers through a self-driving partnership with Mercedes-Benz and an industrial AI collaboration with Honeywell and Dell. Nvidia Just Doubled Down on Self-Driving Cars With Mercedes
• Neutral Sentiment: Analyst sentiment remains overwhelmingly bullish, with reports citing a 98% buy-rating rate and continued confidence in NVIDIA’s triple-digit revenue growth. However, the shares remain below their 50-day moving average while trading above the 200-day average, reflecting both strong long-term momentum and near-term volatility.
• Negative Sentiment: Credit-market pressure could slow AI data-center construction and reduce GPU purchases by highly leveraged neocloud operators. Analysts also warn of infrastructure bottlenecks, while Broadcom’s custom AI chips and open Ethernet alternatives could gradually challenge NVIDIA’s ecosystem and InfiniBand position. Seaport Reiterates Sell Rating On Nvidia Stock Over Data Center Infrastructure Bottlenecks

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. KGI Securities boosted their price target on shares of NVIDIA from $335.00 to $345.00 in a report on Thursday, August 27th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, October 9th. Mizuho set a $315.00 target price on NVIDIA and gave the stock an "outperform" rating in a report on Thursday, August 27th. Stifel Nicolaus set a $315.00 target price on NVIDIA in a research note on Thursday, August 27th. Finally, China Renaissance increased their price target on NVIDIA from $319.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Five research analysts have rated the stock with a Strong Buy rating, forty-nine have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $321.47.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the transaction, the chief financial officer owned 765,103 shares of the company's stock, valued at $167,595,812.15. The trade was a 4.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,766,118 shares of company stock worth $399,450,353. Corporate insiders own 3.94% of the company's stock.

NVIDIA Company Profile

NVIDIA Corporation NASDAQ: NVDA is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company's products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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