Heritage Family Offices LLP Acquires New Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Heritage Family Offices LLP bought a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,776 shares of the financial services provider's stock, valued at approximately $1,121,000.

Other institutional investors have also recently made changes to their positions in the company. NINE MASTS CAPITAL Ltd purchased a new position in Nasdaq in the fourth quarter worth about $274,000. Teacher Retirement System of Texas lifted its stake in shares of Nasdaq by 892.3% in the 4th quarter. Teacher Retirement System of Texas now owns 60,647 shares of the financial services provider's stock worth $4,689,000 after purchasing an additional 54,535 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Nasdaq by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,173 shares of the financial services provider's stock worth $3,454,000 after buying an additional 9,130 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Nasdaq during the fourth quarter valued at approximately $48,749,000. Finally, Farallon Capital Management LLC grew its position in Nasdaq by 6.3% during the fourth quarter. Farallon Capital Management LLC now owns 3,998,019 shares of the financial services provider's stock valued at $309,087,000 after buying an additional 235,748 shares during the period. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In other news, EVP Bryan Everard Smith sold 657 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president now directly owns 61,980 shares in the company, valued at $4,450,783.80. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider now owns 211,405 shares in the company, valued at $17,552,957.15. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,616 shares of company stock valued at $1,813,598 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley downgraded Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 price objective for the company. in a research note on Tuesday, April 8th. Citigroup dropped their price objective on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Piper Sandler lifted their price objective on shares of Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Bank of America upped their target price on Nasdaq from $103.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Finally, UBS Group reaffirmed a "cautious" rating on shares of Nasdaq in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Nasdaq presently has a consensus rating of "Moderate Buy" and an average price target of $86.50.

Nasdaq Stock Performance

NDAQ traded up $0.06 during midday trading on Wednesday, hitting $83.87. 2,784,373 shares of the company were exchanged, compared to its average volume of 2,940,517. The company's 50 day simple moving average is $76.66 and its 200 day simple moving average is $78.35. The firm has a market capitalization of $48.15 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a 1-year low of $58.28 and a 1-year high of $84.45. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. As a group, sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio is currently 49.09%.

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.