Dividend Assets Capital LLC Buys 21,584 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Dividend Assets Capital LLC increased its Nasdaq stake by 166.9% in the first quarter, buying 21,584 additional shares and bringing its total holding to 34,518 shares worth about $2.93 million.
• Nasdaq reported stronger-than-expected quarterly results, posting $0.96 EPS versus $0.93 expected and $2.14 billion in revenue versus $1.42 billion estimated, with revenue up 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 from $0.27, implying a $1.24 annualized payout and a 1.5% yield.

Dividend Assets Capital LLC grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 166.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,518 shares of the financial services provider's stock after acquiring an additional 21,584 shares during the quarter. Dividend Assets Capital LLC's holdings in Nasdaq were worth $2,930,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new position in Nasdaq in the first quarter valued at about $146,000. Stephens Inc. AR purchased a new stake in shares of Nasdaq during the first quarter valued at about $548,000. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of Nasdaq by 77.6% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 1,199 shares of the financial services provider's stock valued at $102,000 after buying an additional 524 shares in the last quarter. GM Advisory Group LLC bought a new stake in shares of Nasdaq in the 1st quarter valued at about $358,000. Finally, Kepler Cheuvreux Suisse SA boosted its holdings in shares of Nasdaq by 56.8% in the 1st quarter. Kepler Cheuvreux Suisse SA now owns 12,079 shares of the financial services provider's stock valued at $1,025,000 after buying an additional 4,376 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Insider Activity at Nasdaq

In related news, insider Cohen Tal sold 15,518 shares of the firm's 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 transaction, the insider owned 215,208 shares in the company, valued at $19,530,126. This trade represents a 6.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ab Investor purchased 56,782 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the transaction, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, 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.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. TD Cowen lowered their target price on shares of Nasdaq from $104.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a report on Wednesday, April 22nd. Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. Finally, Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Nasdaq currently has an average rating of "Moderate Buy" and an average price target of $107.54.

Nasdaq Price Performance

Shares of NDAQ stock opened at $84.66 on Monday. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.69 and a beta of 0.99. The stock's 50-day simple moving average is $87.58 and its 200-day simple moving average is $89.26.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. Nasdaq's revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. As a group, equities analysts forecast that Nasdaq, Inc. will post 3.87 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.31 dividend. This is an increase from Nasdaq's previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, June 12th. Nasdaq's dividend payout ratio is 37.35%.

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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