Callan Family Office LLC Invests $821,000 in Nasdaq, Inc. $NDAQ

Key Points

• Callan Family Office acquired 10,417 Nasdaq shares worth approximately $821,000 during the second quarter. Institutional investors and hedge funds collectively own 72.47% of the company.
• Analysts remain broadly bullish, with Nasdaq receiving an average “Buy” rating and a consensus price target of $110.30; recent targets include $113 from Raymond James and $120 from Morgan Stanley.
• Nasdaq reported quarterly EPS of $1.07, beating estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. The company also declared a quarterly dividend of $0.31 per share, representing a 1.3% annualized yield.

Callan Family Office LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,417 shares of the financial services provider's stock, valued at approximately $821,000.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Nasdaq by 1.6% in the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider's stock valued at $277,329,000 after acquiring an additional 45,783 shares during the period. M&T Bank Corp grew its stake in shares of Nasdaq by 27.5% during the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider's stock valued at $5,933,000 after acquiring an additional 13,160 shares in the last quarter. MKP Capital Management L.L.C. purchased a new stake in Nasdaq during the 4th quarter worth approximately $33,996,000. AlphaCore Capital LLC bought a new stake in shares of Nasdaq in the fourth quarter worth $1,245,000. Finally, Advisors Preferred LLC bought a new stake in shares of Nasdaq in the 4th quarter worth about $4,872,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of a number of recent research reports. Zacks Research upgraded shares of Nasdaq from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Raymond James Financial reissued an "outperform" rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a report on Monday, July 20th. Morgan Stanley reiterated an "overweight" rating and issued a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. Finally, Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $110.30.

Insiders Place Their Bets

In related news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 13,000 shares of Nasdaq stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president owned 128,293 shares of the company's stock, valued at approximately $11,881,214.73. This represents a 9.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is currently owned by corporate insiders.

Nasdaq Trading Up 0.6%

Nasdaq stock opened at $98.79 on Tuesday. The company's fifty day moving average price is $90.00 and its two-hundred day moving average price is $88.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company has a market capitalization of $55.22 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.30 and a beta of 0.96.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The business's revenue was up 14.9% on a year-over-year basis. On average, analysts forecast that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq's dividend payout ratio is presently 36.15%.

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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