Castlefield Investment Partners LLP Purchases Shares of 57,050 Nasdaq, Inc. $NDAQ

Key Points

• Castlefield Investment Partners initiated a Nasdaq position of 57,050 shares worth approximately $4.5 million, making NDAQ 3.1% of its portfolio. Institutional investors collectively own 72.47% of Nasdaq.
• Nasdaq reported quarterly earnings of $1.07 per share, exceeding the $0.98 analyst consensus, while revenue rose 14.9% year over year to $2.53 billion.
• The company declared a quarterly dividend of $0.31 per share, equivalent to an annualized $1.24 dividend and a 1.3% yield. Analysts maintain a consensus “Buy” rating with an average price target of $110.30.

Castlefield Investment Partners LLP purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,050 shares of the financial services provider's stock, valued at approximately $4,497,000. Nasdaq makes up approximately 3.1% of Castlefield Investment Partners LLP's portfolio, making the stock its 13th biggest position.

Other large investors have also modified their holdings of the company. NBC Securities Inc. raised its position in shares of Nasdaq by 7.8% in 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. Independent Advisor Alliance grew its position in Nasdaq by 2.6% during the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider's stock worth $444,000 after purchasing an additional 117 shares during the last quarter. Quantum Portfolio Management LLC increased its stake in Nasdaq by 1.8% during the 1st quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider's stock valued at $606,000 after purchasing an additional 123 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in Nasdaq by 5.2% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 133 shares in the last quarter. Finally, Fielder Capital Group LLC raised its holdings in shares of Nasdaq by 3.1% in the fourth quarter. Fielder Capital Group LLC now owns 4,571 shares of the financial services provider's stock worth $444,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Price Performance

NDAQ stock opened at $98.22 on Monday. The firm's fifty day simple moving average is $89.85 and its 200-day simple moving average is $87.97. The company has a market capitalization of $54.90 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. 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 12 month low of $76.55 and a 12 month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business's quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Nasdaq, Inc. will post 4.15 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq's dividend payout ratio (DPR) is currently 36.15%.

Insiders Place Their Bets

In related news, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider owned 58,439,208 shares of the company's stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president directly owned 128,293 shares of the company's stock, valued at approximately $11,881,214.73. This trade represents a 9.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 41,797 shares of company stock valued at $3,926,319. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NDAQ. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research note on Sunday, May 3rd. Zacks Research raised Nasdaq from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Barclays restated an "overweight" rating and issued a $111.00 target price (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Keefe, Bruyette & Woods lifted their price target on Nasdaq from $92.00 to $102.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Finally, Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Nasdaq has an average rating of "Buy" and an average price target of $110.30.

Nasdaq 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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