Harmony Asset Management LLC Has $1.39 Million Stake in Nasdaq, Inc. $NDAQ

Key Points

• Harmony Asset Management LLC boosted its Nasdaq stake by 475.1% in the fourth quarter, ending with 14,290 shares valued at about $1.39 million.
• Nasdaq reported better-than-expected quarterly results, with EPS of $0.96 versus $0.93 expected and revenue of $2.14 billion, up 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, while analysts currently rate the stock a Moderate Buy with a consensus price target of $107.15.

Harmony Asset Management LLC raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 475.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,290 shares of the financial services provider's stock after purchasing an additional 11,805 shares during the period. Harmony Asset Management LLC's holdings in Nasdaq were worth $1,388,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. lifted its position in shares of Nasdaq by 7.8% in the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider's stock worth $149,000 after purchasing an additional 111 shares during the period. ORG Wealth Partners LLC lifted its position in shares of Nasdaq by 6.9% in the 4th quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider's stock worth $170,000 after purchasing an additional 112 shares during the period. Independent Advisor Alliance lifted its position in shares of Nasdaq by 2.6% in the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider's stock worth $444,000 after purchasing an additional 117 shares during the period. Orgel Wealth Management LLC increased its stake in shares of Nasdaq by 4.7% in the 4th quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider's stock valued at $255,000 after acquiring an additional 118 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in shares of Nasdaq by 1.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider's stock valued at $831,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NDAQ. Royal Bank Of Canada reiterated an "outperform" rating and issued a $108.00 price objective on shares of Nasdaq in a research note on Friday, January 30th. Argus upgraded shares of Nasdaq to a "strong-buy" rating in a research note on Wednesday, February 11th. Raymond James Financial reiterated an "outperform" rating and issued a $109.00 price objective on shares of Nasdaq in a research note on Wednesday, February 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research note on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.15.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $90.01 on Thursday. The firm has a market capitalization of $50.90 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.88 and a beta of 0.98. The company has a fifty day moving average of $87.46 and a 200-day moving average of $89.82. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. Nasdaq's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. This is a boost from Nasdaq's previous quarterly dividend of $0.27. The ex-dividend date is Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. Nasdaq's dividend payout ratio (DPR) is presently 32.53%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the sale, the senior vice president owned 10,089 shares in the company, valued at approximately $896,104.98. The trade was a 11.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adena T. Friedman sold 113,611 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the sale, the chief executive officer owned 1,965,751 shares of the company's stock, valued at $167,953,765.44. This trade represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 231,002 shares of company stock worth $20,295,941. Company insiders own 0.60% of the company's stock.

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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