Dock Street Asset Management Inc. Has $78.44 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Dock Street Asset Management Inc. boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,390 shares of the computer hardware maker’s stock after buying an additional 469 shares during the quarter. NVIDIA accounts for approximately 12.3% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its largest position. Dock Street Asset Management Inc.’s holdings in NVIDIA were worth $78,438,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Vanguard Group Inc. boosted its position in NVIDIA by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after buying an additional 2,287,471 shares during the period. Northern Trust Corp raised its stake in shares of NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after acquiring an additional 910,009 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Charles Schwab Investment Management Inc. grew its stake in NVIDIA by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock worth $5,740,887,000 after purchasing an additional 77,089 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in NVIDIA by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock worth $4,586,865,000 after purchasing an additional 209,085 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. Piper Sandler Companies increased their price target on NVIDIA to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their target price on shares of NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group boosted their price target on shares of NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. TD Cowen increased their price objective on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Argus boosted their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

Insider Activity

In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last quarter. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 6.2 %

NVDA opened at $877.35 on Friday. The company has a fifty day moving average of $854.40 and a two-hundred day moving average of $635.34. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a PEG ratio of 1.14 and a beta of 1.73. NVIDIA Co. has a fifty-two week low of $266.25 and a fifty-two week high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. On average, research analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

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.