Eaton Financial Holdings Company LLC Invests $3.89 Million in NVIDIA Co. (NASDAQ:NVDA)

Eaton Financial Holdings Company LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 32,068 shares of the computer hardware maker’s stock, valued at approximately $3,894,000. NVIDIA makes up approximately 1.6% of Eaton Financial Holdings Company LLC’s investment portfolio, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its holdings in NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after buying an additional 11,525,969 shares during the period. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% in 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 buying an additional 191,469,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after buying an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Robert W. Baird lifted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

NVDA opened at $147.07 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $138.69 and its two-hundred day moving average price is $129.22. NVIDIA Co. has a 1-year low of $58.58 and a 1-year high of $153.13. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 57.88, a PEG ratio of 2.48 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

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.