Eaton Cambridge Inc. Has $2.28 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Eaton Cambridge Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,732 shares of the computer hardware maker’s stock after buying an additional 819 shares during the period. NVIDIA accounts for approximately 1.1% of Eaton Cambridge Inc.’s holdings, making the stock its 8th biggest position. Eaton Cambridge Inc.’s holdings in NVIDIA were worth $2,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter valued at approximately $27,000. Finally, Quest Partners LLC purchased a new position in NVIDIA during the 2nd quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NVDA shares. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Wells Fargo & Company upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $135.34 on Friday. The firm has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $135.61 and its 200 day moving average is $123.34.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,036,986 shares of company stock worth $240,602,399. Corporate insiders own 4.23% 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.