Foster Victor Wealth Advisors LLC Boosts Stock Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Foster Victor Wealth Advisors LLC has increased its stake in Nasdaq, Inc. by 1.2%, owning 283,172 shares valued at approximately $25.4 million.
• Nasdaq's recent quarterly earnings showed earnings per share of $0.85, exceeding estimates and reflecting a 12.7% year-over-year revenue growth.
• Multiple analysts have raised their price targets for Nasdaq, with Barclays setting a new target of $109.00 after rating it as "overweight."

Foster Victor Wealth Advisors LLC increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 283,172 shares of the financial services provider's stock after purchasing an additional 3,357 shares during the period. Nasdaq makes up 1.7% of Foster Victor Wealth Advisors LLC's holdings, making the stock its 8th largest position. Foster Victor Wealth Advisors LLC's holdings in Nasdaq were worth $25,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC boosted its position in shares of Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after buying an additional 120 shares during the period. Vestcor Inc boosted its position in Nasdaq by 1.6% during the 1st quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock worth $669,000 after acquiring an additional 141 shares during the last quarter. Sax Wealth Advisors LLC boosted its position in Nasdaq by 0.5% during the 1st quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider's stock worth $2,282,000 after acquiring an additional 144 shares during the last quarter. Wesbanco Bank Inc. grew its stake in shares of Nasdaq by 7.1% during the 1st quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock worth $215,000 after acquiring an additional 187 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $88.44 on Wednesday. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The company has a market capitalization of $50.75 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.97 and a beta of 1.02. The company has a 50-day simple moving average of $93.77 and a 200 day simple moving average of $84.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the firm earned $0.69 EPS. The business's revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq's payout ratio is 41.54%.

Analysts Set New Price Targets

NDAQ has been the subject of a number of analyst reports. Barclays raised their target price on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Oppenheimer restated an "outperform" rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Morgan Stanley upped their target price on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Piper Sandler increased their price target on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Royal Bank Of Canada boosted their price target on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the sale, the executive vice president directly owned 92,551 shares of the company's stock, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,409 shares of company stock valued at $2,223,599 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

About Nasdaq

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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