Bank of New York Mellon Corp Cuts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

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

Several other institutional investors have also recently bought and sold shares of the business. Grove Bank & Trust raised its position in 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 purchasing an additional 216 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Nasdaq in the 4th quarter worth $26,000. Highline Wealth Partners LLC boosted 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 purchasing an additional 317 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Nasdaq in the 1st quarter worth $26,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Nasdaq in the 4th quarter worth $37,000. Institutional investors own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the transaction, the insider 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. In the last 90 days, insiders have sold 21,613 shares of company stock worth $1,874,659. Company insiders own 0.70% of the company's stock.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ traded down $1.32 on Friday, reaching $89.41. 2,433,101 shares of the company's stock were exchanged, compared to its average volume of 3,079,179. The company has a market capitalization of $51.33 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.24 and a beta of 1.01. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average of $84.84 and a 200-day moving average of $79.74. Nasdaq, Inc. has a twelve month low of $62.14 and a twelve month high of $90.84.

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

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.27 dividend. This is a boost from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date was Friday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. Nasdaq's dividend payout ratio is presently 49.09%.

Analyst Ratings Changes

A number of brokerages have recently commented on NDAQ. Bank of America upped their price target on Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. UBS Group upped their price target on Nasdaq from $82.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Nasdaq from $85.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Barclays lifted their price target on shares of Nasdaq from $84.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Raymond James Financial reissued an "outperform" rating and set a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Nasdaq presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.69.

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.