Arete Wealth Advisors LLC Takes Position in Nasdaq, Inc. $NDAQ

Key Points

• Arete Wealth Advisors LLC made a new investment of $863,000 in Nasdaq, Inc., purchasing 11,375 shares during the first quarter.
• Nasdaq recently reported $1.31 billion in revenue for the last quarter, beating analyst estimates and reflecting a 12.7% year-over-year growth.
• The company announced a quarterly dividend of $0.27 per share, with a payment date set for September 26th and an annualized yield of 1.1%.

Arete Wealth Advisors LLC bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,375 shares of the financial services provider's stock, valued at approximately $863,000.

Several other institutional investors have also recently made changes to their positions in NDAQ. Grove Bank & Trust raised its position in shares of 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 acquiring an additional 216 shares in the last quarter. Highline Wealth Partners LLC raised its position in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after acquiring an additional 317 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Nasdaq in the 1st quarter worth approximately $26,000. First Command Advisory Services Inc. bought a new position in shares of Nasdaq in the 1st quarter worth approximately $30,000. Finally, AlphaQuest LLC bought a new position in shares of Nasdaq in the 1st quarter worth approximately $34,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Trading Down 2.0%

NASDAQ NDAQ traded down $1.93 during trading hours on Friday, hitting $93.95. 2,947,784 shares of the company were exchanged, compared to its average volume of 2,459,310. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The stock has a 50-day moving average price of $93.60 and a 200 day moving average price of $84.16. The stock has a market cap of $53.91 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

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 (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Nasdaq's dividend payout ratio is currently 41.54%.

Insider Transactions at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares of the company's stock, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,409 shares of company stock valued at $2,223,599. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NDAQ shares. Barclays raised their price objective on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Morgan Stanley raised their price objective on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Oppenheimer reissued an "outperform" rating and issued a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Nasdaq currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.06.

About Nasdaq

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.