Dearborn Partners LLC Sells 12,632 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Dearborn Partners LLC reduced its Nasdaq stake by 3.9% in the fourth quarter, selling 12,632 shares and leaving it with 311,111 shares valued at about $30.2 million.
• Nasdaq reported better-than-expected quarterly results, with EPS of $0.96 versus $0.93 expected and revenue of $2.14 billion, up 13.7% from a year earlier.
• The company raised its quarterly dividend to $0.31 per share from $0.27, and analysts currently view the stock as a Moderate Buy with a consensus target price of $107.15.

Dearborn Partners LLC trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 311,111 shares of the financial services provider's stock after selling 12,632 shares during the period. Nasdaq accounts for approximately 1.5% of Dearborn Partners LLC's portfolio, making the stock its 21st largest holding. Dearborn Partners LLC owned 0.05% of Nasdaq worth $30,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NDAQ. Westside Investment Management Inc. grew its holdings in Nasdaq by 100.0% during the third quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 159 shares during the period. SOA Wealth Advisors LLC. bought a new position in Nasdaq during the fourth quarter valued at $34,000. Nemes Rush Group LLC bought a new position in Nasdaq during the fourth quarter valued at $35,000. Fideuram Asset Management Ireland dac bought a new position in Nasdaq during the fourth quarter valued at $37,000. Finally, Elyxium Wealth LLC bought a new position in Nasdaq during the fourth quarter valued at $44,000. 72.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Adena T. Friedman sold 113,611 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total value of $9,706,923.84. Following the sale, the chief executive officer owned 1,965,751 shares in the company, valued at approximately $167,953,765.44. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cohen Tal sold 15,518 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares in the company, valued at $19,530,126. This trade represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 138,162 shares of company stock worth $11,932,913. 0.60% of the stock is currently owned by corporate insiders.

Nasdaq Trading Down 1.3%

Shares of NDAQ stock opened at $87.28 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. Nasdaq, Inc. has a 52-week low of $77.09 and a 52-week high of $101.79. The company has a market capitalization of $49.36 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The business's fifty day moving average is $88.52 and its 200 day moving average is $90.06.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business posted $0.79 earnings per share. The firm's revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts anticipate that Nasdaq, Inc. will post 3.86 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Nasdaq's previous quarterly dividend of $0.27. The ex-dividend date is Friday, June 12th. Nasdaq's dividend payout ratio (DPR) is 32.53%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NDAQ shares. Loop Capital set a $113.00 price objective on Nasdaq in a report on Friday, April 24th. Raymond James Financial reissued an "outperform" rating and set a $109.00 price objective on shares of Nasdaq in a report on Wednesday, February 25th. Barclays increased their price objective on Nasdaq from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Argus raised Nasdaq to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus target price of $107.15.

About Nasdaq

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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