Kestra Advisory Services LLC trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 37.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,174 shares of the financial services provider’s stock after selling 18,923 shares during the quarter. Kestra Advisory Services LLC’s holdings in Nasdaq were worth $2,646,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. MV Capital Management Inc. acquired a new position in shares of Nasdaq in the 4th quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new stake in Nasdaq during the 4th quarter worth about $34,000. Nemes Rush Group LLC purchased a new stake in Nasdaq during the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. purchased a new stake in Nasdaq during the fourth quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in Nasdaq during the fourth quarter valued at about $37,000. 72.47% of the stock is owned by institutional investors and hedge funds.
Nasdaq Trading Down 2.8%
Shares of NASDAQ NDAQ opened at $91.64 on Friday. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The firm has a market capitalization of $51.83 billion, a PE ratio of 27.60, a PEG ratio of 1.46 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $87.32 and a two-hundred day moving average price of $88.75.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, analysts predict that Nasdaq, Inc. will post 3.92 earnings per share for the current fiscal year.
Nasdaq Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. Nasdaq’s payout ratio is presently 37.35%.
Insider Activity at Nasdaq
In related news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the transaction, the executive vice president directly owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor acquired 56,782 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 24,551 shares of company stock valued at $2,225,990. Company insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
NDAQ has been the topic of several analyst reports. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Loop Capital set a $113.00 price target on shares of Nasdaq in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. TD Cowen decreased their price objective on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $107.42.
View Our Latest Stock Report on Nasdaq
Nasdaq Profile
Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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