AAFMAA Wealth Management & Trust LLC Lowers Stock Position in Nasdaq, Inc. $NDAQ

Key Points

• AAFMAA Wealth Management & Trust LLC reduced its position in Nasdaq, Inc. by 28.5%, selling 5,233 shares during the second quarter, leaving them with 13,134 shares valued at $1,174,000.
• Insiders at Nasdaq have sold a combined total of 24,409 shares worth approximately $2.22 million over the last quarter, indicating a notable decrease in their ownership stakes.
• Various analysts have raised their price targets for Nasdaq, with reports from firms including Deutsche Bank and Royal Bank of Canada citing new targets of $105 and $108 respectively, alongside recommendations of "buy" or "outperform."

AAFMAA Wealth Management & Trust LLC decreased its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 28.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,134 shares of the financial services provider's stock after selling 5,233 shares during the period. AAFMAA Wealth Management & Trust LLC's holdings in Nasdaq were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Grove Bank & Trust raised its holdings in Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after purchasing an additional 216 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock valued at $25,000 after buying an additional 120 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Nasdaq during the 1st quarter worth approximately $26,000. Highline Wealth Partners LLC lifted its position in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after buying an additional 317 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in Nasdaq in the 1st quarter valued at $30,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the transaction, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. This represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,409 shares of company stock worth $2,223,599 in the last quarter. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on NDAQ. Keefe, Bruyette & Woods increased their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada increased their target price on Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Barclays increased their price objective on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $86.73 on Friday. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.91 and a beta of 1.02. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The company's 50-day moving average is $93.66 and its two-hundred day moving average is $84.86.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $0.69 earnings per share. Nasdaq's revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's payout ratio is presently 41.54%.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.

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