G&S Capital LLC Decreases Stock Holdings in Nasdaq, Inc. $NDAQ

Key Points

• G&S Capital LLC reduced its holdings in Nasdaq, Inc. by 51.9% in the second quarter, owning 16,317 shares worth approximately $1.46 million.
• Several other institutional investors have increased their positions in Nasdaq, indicating a mixed sentiment among hedge funds regarding the company's stock.
• Nasdaq recently reported earnings per share of $0.85, exceeding analysts' expectations, and declared a quarterly dividend of $0.27 with a yield of 1.2%.

G&S Capital LLC decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 51.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,317 shares of the financial services provider's stock after selling 17,595 shares during the quarter. G&S Capital LLC's holdings in Nasdaq were worth $1,459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC increased its position in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. Grove Bank & Trust increased its position in shares of Nasdaq by 194.6% during the 1st 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. Highline Wealth Partners LLC increased its position in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the 1st quarter valued at about $26,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Nasdaq during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Trading Up 1.4%

NDAQ stock opened at $88.71 on Tuesday. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.92 and a beta of 1.02. The business has a 50 day simple moving average of $93.62 and a two-hundred day simple moving average of $85.25.

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

Nasdaq Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on NDAQ. Piper Sandler upped their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Oppenheimer reiterated an "outperform" rating and set a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Raymond James Financial reiterated an "outperform" rating and set a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada boosted their price objective on Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and an average price target of $97.06.

Insiders Place Their Bets

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,304 shares of company stock worth $2,035,896 in the last three months. 0.70% of the stock is owned by company insiders.

Nasdaq 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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