Foster Victor Wealth Advisors LLC Has $30.56 Million Stake in Nasdaq, Inc. $NDAQ

Key Points

• Foster Victor Wealth Advisors LLC raised its Nasdaq stake 7.6% to 302,655 shares worth about $30.56 million, making Nasdaq roughly 1.8% of the firm's portfolio and its 8th-largest holding.
• Adena T. Friedman, Nasdaq's CEO, sold 300,000 shares at an average $96.91 for ~$29.07 million (a 13.48% reduction in her holdings); insiders have sold 506,451 shares worth $47.14 million over the past 90 days and now own 0.70% of the stock.
• Nasdaq beat quarterly estimates with $0.96 EPS versus $0.92 and revenue of $2.12 billion (up 13.4% YoY), pays a $0.27 quarterly dividend (1.2% yield), has a market cap of ~$49.3 billion, and carries a consensus "Moderate Buy" target of $105.08.

Foster Victor Wealth Advisors LLC lifted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 302,655 shares of the financial services provider's stock after acquiring an additional 21,478 shares during the quarter. Nasdaq makes up about 1.8% of Foster Victor Wealth Advisors LLC's investment portfolio, making the stock its 8th largest position. Foster Victor Wealth Advisors LLC owned approximately 0.05% of Nasdaq worth $30,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Nasdaq by 6.9% during the third quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider's stock worth $5,275,902,000 after acquiring an additional 3,848,406 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Nasdaq by 4.8% during the fourth 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 acquiring an additional 1,258,964 shares during the last quarter. State Street Corp raised its position in shares of Nasdaq by 7.7% during the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider's stock worth $1,735,318,000 after acquiring an additional 1,404,348 shares during the last quarter. Invesco Ltd. raised its position in shares of Nasdaq by 11.8% during the third quarter. Invesco Ltd. now owns 5,044,521 shares of the financial services provider's stock worth $446,188,000 after acquiring an additional 532,775 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Nasdaq by 2.9% during the third quarter. Northern Trust Corp now owns 4,198,608 shares of the financial services provider's stock worth $371,367,000 after acquiring an additional 116,542 shares during the last quarter. Institutional investors own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In other Nasdaq news, CEO Adena T. Friedman sold 300,000 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares of the company's stock, valued at approximately $186,542,349.73. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 506,451 shares of company stock valued at $47,142,951 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Nasdaq Trading Up 0.7%

NASDAQ NDAQ opened at $86.71 on Wednesday. The stock has a 50-day simple moving average of $84.89 and a 200 day simple moving average of $89.62. The company has a market capitalization of $49.29 billion, a PE ratio of 28.06, a P/E/G ratio of 1.78 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a 12 month low of $69.88 and a 12 month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The firm's revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. Research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 16th. Nasdaq's payout ratio is presently 34.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NDAQ shares. Argus upgraded Nasdaq to a "strong-buy" rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods started coverage on Nasdaq in a research report on Wednesday, April 8th. They set a "market perform" rating and a $92.00 target price for the company. Raymond James Financial reiterated an "outperform" rating and issued a $109.00 price objective on shares of Nasdaq in a report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price objective on Nasdaq from $100.00 to $101.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Nasdaq in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $105.08.

About Nasdaq

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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