AMJ Financial Wealth Management Sells 62,989 Shares of Nasdaq, Inc. $NDAQ

Key Points

• AMJ Financial Wealth Management cut its Nasdaq stake by 47% in the fourth quarter, selling 62,989 shares and leaving it with 71,106 shares worth about $6.9 million.
• Nasdaq reported solid quarterly results, with EPS of $0.96 beating estimates and revenue of $2.14 billion topping expectations, while revenue rose 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 per share, and analysts remain generally positive with a consensus Moderate Buy rating and average price target of $107.15.

AMJ Financial Wealth Management decreased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 47.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,106 shares of the financial services provider's stock after selling 62,989 shares during the period. Nasdaq accounts for about 1.6% of AMJ Financial Wealth Management's holdings, making the stock its 28th largest holding. AMJ Financial Wealth Management's holdings in Nasdaq were worth $6,907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NBC Securities Inc. raised its position in Nasdaq by 7.8% during the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider's stock valued at $149,000 after purchasing an additional 111 shares during the last quarter. ORG Wealth Partners LLC raised its position in shares of Nasdaq by 6.9% in the 4th quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider's stock worth $170,000 after acquiring an additional 112 shares in the last quarter. Independent Advisor Alliance raised its position in shares of Nasdaq by 2.6% in the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider's stock worth $444,000 after acquiring an additional 117 shares in the last quarter. Orgel Wealth Management LLC raised its position in shares of Nasdaq by 4.7% in the 4th quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider's stock worth $255,000 after acquiring an additional 118 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in shares of Nasdaq by 1.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider's stock worth $831,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several research reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $108.00 target price on shares of Nasdaq in a research report on Friday, January 30th. Keefe, Bruyette & Woods increased their target price on Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Loop Capital set a $113.00 target price on Nasdaq in a research report on Friday, April 24th. Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Morgan Stanley set a $116.00 target price on Nasdaq and gave the stock an "overweight" rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.15.

Nasdaq Stock Performance

Nasdaq stock opened at $91.06 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $51.50 billion, a P/E ratio of 27.43, a PEG ratio of 1.85 and a beta of 0.98. The stock's 50 day moving average is $87.26 and its 200 day moving average is $89.70. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.79 EPS. The company's revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts predict that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, June 12th. This represents a $1.24 annualized dividend and a yield of 1.4%. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio (DPR) is 32.53%.

Insiders Place Their Bets

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $88.82, for a total transaction of $117,508.86. Following the sale, the senior vice president directly owned 10,089 shares in the company, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cohen Tal sold 15,518 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the sale, the insider owned 215,208 shares in the company, valued at approximately $19,530,126. This represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 231,002 shares of company stock valued at $20,295,941. 0.60% of the stock is currently owned by company 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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