AlphaQuest LLC Increases Holdings in Nasdaq, Inc. $NDAQ

Key Points

• AlphaQuest LLC has significantly increased its holdings in Nasdaq, Inc. by 5,735.6%, now owning 25,910 shares valued at $2.3 million.
• Brokerages have issued positive ratings for Nasdaq, with a consensus price target of $98.56 and a rating of "Moderate Buy" from numerous analysts.
• Nasdaq recently announced a quarterly dividend of $0.27 per share, reflecting an annualized yield of 1.2%.

AlphaQuest LLC raised its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 5,735.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,910 shares of the financial services provider's stock after buying an additional 25,466 shares during the period. AlphaQuest LLC's holdings in Nasdaq were worth $2,317,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC raised its stake in Nasdaq by 72.7% during the 2nd 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 during the last quarter. Freedom Investment Management Inc. increased its stake in shares of Nasdaq by 2.3% in the 2nd quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider's stock worth $508,000 after purchasing an additional 128 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Nasdaq by 2.5% in the 2nd quarter. Private Trust Co. NA now owns 5,656 shares of the financial services provider's stock worth $506,000 after purchasing an additional 137 shares in the last quarter. Vestcor Inc increased its stake in shares of Nasdaq by 1.6% in the 1st quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock worth $669,000 after purchasing an additional 141 shares in the last quarter. Finally, Sax Wealth Advisors LLC increased its stake in shares of Nasdaq by 0.5% in the 1st quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider's stock worth $2,282,000 after purchasing an additional 144 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NDAQ. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Morgan Stanley set a $90.00 price target on Nasdaq and gave the stock an "equal weight" rating in a research note on Wednesday, October 1st. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and increased their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and set a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Finally, TD Cowen increased their price objective on shares of Nasdaq from $94.00 to $96.00 and gave the company a "hold" rating in a report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.56.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares of the company's stock, valued at $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Up 0.4%

Shares of NASDAQ:NDAQ opened at $89.19 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 0.72. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a 50-day moving average price of $91.35 and a 200 day moving average price of $86.80. The company has a market cap of $51.18 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 1.94 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, equities research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq's dividend payout ratio (DPR) is presently 41.54%.

Nasdaq 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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