Bank of New York Mellon Corp Has $213.03 Million Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of New York Mellon Corp reduced its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,808,141 shares of the financial services provider's stock after selling 497,834 shares during the period. Bank of New York Mellon Corp owned approximately 0.49% of Nasdaq worth $213,026,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NDAQ. Norges Bank acquired a new position in Nasdaq during the fourth quarter valued at approximately $424,285,000. Ameriprise Financial Inc. raised its position in Nasdaq by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock valued at $464,676,000 after purchasing an additional 1,650,201 shares in the last quarter. Franklin Resources Inc. raised its position in Nasdaq by 13.4% during the fourth quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider's stock valued at $802,401,000 after purchasing an additional 1,225,672 shares in the last quarter. Invesco Ltd. raised its position in Nasdaq by 40.3% during the fourth quarter. Invesco Ltd. now owns 3,902,214 shares of the financial services provider's stock valued at $301,680,000 after purchasing an additional 1,120,538 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Nasdaq by 7,367.6% during the first quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock valued at $85,671,000 after purchasing an additional 1,114,205 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total transaction of $187,702.85. Following the sale, the executive vice president owned 94,656 shares of the company's stock, valued at approximately $8,440,475.52. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Pc Nelson Griggs sold 8,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,613 shares of company stock valued at $1,874,659. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NDAQ. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Citigroup lowered their price target on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Oppenheimer set a $96.00 price target on shares of Nasdaq and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Nasdaq in a report on Thursday, April 10th. Finally, Bank of America upped their price target on shares of Nasdaq from $103.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Nasdaq presently has an average rating of "Moderate Buy" and a consensus price target of $88.06.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $90.55 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Nasdaq, Inc. has a twelve month low of $60.27 and a twelve month high of $90.82. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of 41.16, a P/E/G ratio of 2.32 and a beta of 1.01. The company's fifty day moving average is $83.80 and its 200 day moving average is $79.45.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.27 per share. The ex-dividend date was Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.19%. This is a boost from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio is 49.09%.

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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