258,633 Shares in Nasdaq, Inc. $NDAQ Acquired by Dearborn Partners LLC

Key Points

• Dearborn Partners acquired 258,633 Nasdaq shares during the second quarter, valued at approximately $20.4 million. Institutional investors collectively own 72.47% of Nasdaq’s outstanding stock.
• Nasdaq reported quarterly EPS of $1.07, exceeding estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts maintain a consensus “Buy” rating with an average price target of $110.30.
• Nasdaq declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.2% yield. The stock recently traded at $99.35, near its 52-week high of $101.79.

Dearborn Partners LLC acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 258,633 shares of the financial services provider's stock, valued at approximately $20,385,000.

Other large investors also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors acquired a new position in Nasdaq in the 2nd quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in shares of Nasdaq during the 4th quarter valued at approximately $28,000. Nemes Rush Group LLC purchased a new stake in shares of Nasdaq during the 4th quarter valued at approximately $35,000. Uniplan Investment Counsel Inc. acquired a new position in Nasdaq in the fourth quarter valued at approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Nasdaq in the fourth quarter worth approximately $37,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Down 0.1%

Shares of NASDAQ:NDAQ opened at $99.35 on Friday. The firm has a market capitalization of $55.53 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50-day moving average is $90.86 and its two-hundred day moving average is $88.33.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. Analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq's dividend payout ratio is currently 36.15%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research upgraded Nasdaq from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Barclays reaffirmed an "overweight" rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. TD Cowen reiterated a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $110.30.

Insider Transactions at Nasdaq

In related news, major shareholder Ab Investor acquired 56,782 shares of the firm'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 completion of the purchase, the insider directly owned 58,439,208 shares of the company's stock, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider directly owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is currently owned by corporate insiders.

Nasdaq Company 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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