NVIDIA Corporation (NASDAQ:NVDA) is Dock Street Asset Management Inc.'s Largest Position

Dock Street Asset Management Inc. raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,118,096 shares of the computer hardware maker's stock after buying an additional 154,862 shares during the period. NVIDIA comprises 14.3% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its biggest position. Dock Street Asset Management Inc.'s holdings in NVIDIA were worth $121,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Condor Capital Management increased its stake in shares of NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares in the last quarter. High Note Wealth LLC increased its stake in shares of NVIDIA by 0.5% during the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after purchasing an additional 91 shares in the last quarter. Kelly Financial Services LLC increased its stake in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after purchasing an additional 94 shares in the last quarter. Foundry Financial Group Inc. increased its stake in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after purchasing an additional 96 shares in the last quarter. Finally, Mendel Capital Management LLC increased its stake in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,687,440 shares of company stock valued at $862,095,782. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $182.67 on Friday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.88. The company has a fifty day simple moving average of $159.82 and a two-hundred day simple moving average of $133.80. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 58.93, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, DA Davidson boosted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

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.

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