Fiduciary Alliance LLC Boosts Stock Position in Nasdaq, Inc. $NDAQ

Key Points

• Fiduciary Alliance LLC increased its stake in Nasdaq, Inc. by 18.9% by purchasing an additional 3,976 shares in the second quarter, bringing its total to 25,012 shares worth approximately $2.24 million.
• Wall Street analysts have issued positive ratings, with Raymond James and Barclays raising their price targets significantly, now averaging around $97.06 across multiple firms.
• Nasdaq recently announced a quarterly dividend of $0.27 per share, scheduled to be paid on September 26, which represents a 1.2% yield.

Fiduciary Alliance LLC lifted its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 18.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,012 shares of the financial services provider's stock after purchasing an additional 3,976 shares during the quarter. Fiduciary Alliance LLC's holdings in Nasdaq were worth $2,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Nasdaq by 7.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after purchasing an additional 3,096 shares in the last quarter. USA Financial Formulas boosted its holdings in Nasdaq by 61.1% during the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock valued at $1,353,000 after acquiring an additional 6,764 shares during the period. Principal Financial Group Inc. boosted its holdings in Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock valued at $172,098,000 after acquiring an additional 27,622 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Nasdaq during the 4th quarter valued at approximately $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in Nasdaq during the 1st quarter valued at approximately $222,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Barclays upped their price target on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Morgan Stanley upped their price target on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and upped their price target for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Insider Buying and Selling at Nasdaq

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,409 shares of company stock worth $2,223,599. Insiders own 0.70% of the company's stock.

Nasdaq Stock Performance

Shares of NDAQ opened at $92.54 on Wednesday. The business's fifty day simple moving average is $93.73 and its two-hundred day simple moving average is $84.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a market cap of $53.10 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 2.03 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $0.69 EPS. The company's revenue was up 12.7% compared to the same quarter last year. Research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

Nasdaq Company 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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