Envestnet Asset Management Inc. reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,736,842 shares of the financial services provider's stock after selling 53,824 shares during the quarter. Envestnet Asset Management Inc. owned about 0.30% of Nasdaq worth $131,757,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of NDAQ. Grove Bank & Trust grew its holdings in Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after purchasing an additional 216 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Nasdaq during the fourth quarter valued at $26,000. Highline Wealth Partners LLC grew its holdings in shares of Nasdaq by 1,509.5% during the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after buying an additional 317 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the first quarter valued at $26,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Nasdaq during the fourth quarter valued at $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NDAQ has been the topic of several recent research reports. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a report on Wednesday. Piper Sandler upped their price objective on shares of Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Bank of America increased their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Morgan Stanley lowered shares of Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 target price on the stock. in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their target price on shares of Nasdaq from $85.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.69.
View Our Latest Research Report on Nasdaq
Nasdaq Stock Down 1.0%
NASDAQ:NDAQ traded down $0.94 during midday trading on Friday, hitting $89.79. 803,249 shares of the company were exchanged, compared to its average volume of 3,070,600. The company has a fifty day simple moving average of $84.62 and a 200 day simple moving average of $79.67. Nasdaq, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $90.84. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $51.55 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $0.63 EPS. Nasdaq's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.
Nasdaq Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.27 per share. This is an increase from Nasdaq's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, June 13th. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.
Insiders Place Their Bets
In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. The trade was a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,613 shares of company stock valued at $1,874,659. Insiders own 0.70% of the company's stock.
Nasdaq Profile
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Free Report)
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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