Diversify Wealth Management LLC Takes Position in Nasdaq, Inc. $NDAQ

Diversify Wealth Management LLC bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,961 shares of the financial services provider's stock, valued at approximately $1,000,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Nasdaq by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider's stock valued at $5,819,727,000 after buying an additional 268,481 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Nasdaq by 4.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider's stock worth $2,683,485,000 after buying an additional 1,258,964 shares during the last quarter. State Street Corp lifted its stake in Nasdaq by 1.3% during the 4th quarter. State Street Corp now owns 19,878,600 shares of the financial services provider's stock valued at $1,930,808,000 after acquiring an additional 259,408 shares during the period. Geode Capital Management LLC lifted its stake in Nasdaq by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock valued at $1,243,807,000 after acquiring an additional 378,577 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after acquiring an additional 3,567,843 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Stock Up 3.8%

Nasdaq stock opened at $91.36 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $51.67 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99. The business has a 50 day simple moving average of $87.16 and a 200-day simple moving average of $88.76. 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 results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. On average, analysts anticipate that Nasdaq, Inc. will post 3.91 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. This is a boost from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio is 37.35%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NDAQ. Raymond James Financial reissued an "outperform" rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a report on Thursday, June 11th. Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $107.42.

Insider Transactions at Nasdaq

In other news, major shareholder Ab Investor bought 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, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares of the company's stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the transaction, the executive vice president owned 141,035 shares in the company, valued at approximately $12,808,798.70. This trade represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 24,551 shares of company stock valued at $2,225,990. 0.60% of the stock is currently owned by corporate insiders.

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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