Alpha Omega Wealth Management LLC Takes $1.33 Million Position in MarketAxess Holdings Inc. $MKTX

Key Points

• Alpha Omega Wealth Management LLC opened a new position in MarketAxess, acquiring 7,315 shares valued at about $1.33 million in the fourth quarter; institutional investors now own roughly 99.01% of the stock.
• MarketAxess slightly missed quarterly expectations, reporting $1.68 EPS vs. $1.72 expected and $209.41M revenue vs. $214.06M, though revenue rose 3.5% year-over-year; analysts maintain a consensus "Hold" rating with an average price target of $201.11.
• The company raised its quarterly dividend to $0.78 (annualized $3.12) for a yield near 1.8% and a payout ratio of about 46.9%, while the stock recently traded around $172.77 (down 2.3%).

Alpha Omega Wealth Management LLC acquired a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,315 shares of the financial services provider's stock, valued at approximately $1,326,000.

Several other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in MarketAxess by 1.8% in the 3rd quarter. Fifth Third Bancorp now owns 3,323 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 60 shares during the last quarter. Jones Financial Companies Lllp lifted its position in MarketAxess by 4.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,676 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 67 shares during the last quarter. Ancora Advisors LLC lifted its position in MarketAxess by 1.9% in the 3rd quarter. Ancora Advisors LLC now owns 3,522 shares of the financial services provider's stock valued at $614,000 after purchasing an additional 67 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in MarketAxess by 1.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider's stock valued at $939,000 after purchasing an additional 69 shares during the last quarter. Finally, Alamar Capital Management LLC lifted its position in MarketAxess by 0.5% in the 3rd quarter. Alamar Capital Management LLC now owns 16,832 shares of the financial services provider's stock valued at $2,933,000 after purchasing an additional 80 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

MarketAxess Stock Down 2.3%

MKTX stock opened at $172.77 on Friday. MarketAxess Holdings Inc. has a 52 week low of $156.17 and a 52 week high of $232.84. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01. The firm's 50-day moving average is $175.86 and its two-hundred day moving average is $173.25. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.19.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.68 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). MarketAxess had a return on equity of 20.88% and a net margin of 29.14%.The company had revenue of $209.41 million for the quarter, compared to the consensus estimate of $214.06 million. During the same quarter last year, the firm posted $1.73 earnings per share. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, February 18th. This is an increase from MarketAxess's previous quarterly dividend of $0.76. MarketAxess's payout ratio is presently 46.85%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MKTX shares. Weiss Ratings upgraded shares of MarketAxess from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, February 10th. Keefe, Bruyette & Woods started coverage on shares of MarketAxess in a research report on Wednesday. They issued an "outperform" rating and a $195.00 price objective on the stock. Wall Street Zen upgraded shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Morgan Stanley cut their price objective on shares of MarketAxess from $204.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 15th. Finally, Piper Sandler dropped their price target on shares of MarketAxess from $180.00 to $175.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $201.11.

MarketAxess Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company's network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.

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