Charles Schwab Investment Management Inc. Boosts Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Nasdaq, Inc. by 2.1% during the first quarter, holding approximately 2,416,602 shares valued at $183.3 million.
• Nasdaq recently reported quarterly earnings of $0.85 per share, beating analysts' expectations and marking a 12.7% revenue increase year-over-year.
• The firm declared a $0.27 quarterly dividend, representing an annual yield of 1.1%, to be paid to investors of record on September 12th.

Charles Schwab Investment Management Inc. boosted its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,416,602 shares of the financial services provider's stock after buying an additional 48,681 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.42% of Nasdaq worth $183,323,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Advisory Services Network LLC lifted its stake in Nasdaq by 55.7% in the 4th quarter. Advisory Services Network LLC now owns 6,494 shares of the financial services provider's stock valued at $502,000 after buying an additional 2,324 shares in the last quarter. Argent Trust Co lifted its stake in Nasdaq by 3.1% in the 4th quarter. Argent Trust Co now owns 11,213 shares of the financial services provider's stock valued at $867,000 after buying an additional 332 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Nasdaq by 160.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 410,146 shares of the financial services provider's stock valued at $31,697,000 after buying an additional 252,596 shares in the last quarter. Fortis Capital Advisors LLC lifted its stake in Nasdaq by 26.4% in the 4th quarter. Fortis Capital Advisors LLC now owns 19,703 shares of the financial services provider's stock valued at $1,420,000 after buying an additional 4,111 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in Nasdaq by 10.0% in the 4th quarter. Townsquare Capital LLC now owns 11,038 shares of the financial services provider's stock valued at $853,000 after buying an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Trading Up 0.4%

Shares of NDAQ opened at $96.85 on Friday. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.47. The firm has a market capitalization of $55.57 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock's fifty day simple moving average is $89.67 and its 200 day simple moving average is $81.88.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly 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 firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.69 EPS. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that Nasdaq, Inc. will post 3.18 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 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio is currently 41.54%.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Redburn Atlantic upgraded Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Thursday, April 17th. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Morgan Stanley raised their price objective on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of the 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 completion of the sale, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the 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 sale, the senior vice president owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,409 shares of company stock valued at $2,887,839 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

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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