Hsbc Holdings PLC Has $119.25 Million Stock Position in Nasdaq, Inc. $NDAQ

Key Points

• HSBC Holdings PLC reduced its stake in Nasdaq by 3.6% in the fourth quarter, selling 46,079 shares and ending with 1,225,879 shares valued at about $119.25 million.
• Nasdaq reported better-than-expected quarterly earnings of $0.96 per share on revenue of $2.14 billion, with revenue up 13.7% year over year. The company also raised its quarterly dividend to $0.31 per share, up from $0.27.
• Wall Street remains broadly positive on the stock, with analysts assigning a consensus rating of Moderate Buy and an average price target of $107.36. Meanwhile, insiders have been active, including CEO Adena Friedman’s recent sale and a notable purchase by major shareholder Ab Investor.

Hsbc Holdings PLC lowered its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,225,879 shares of the financial services provider's stock after selling 46,079 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Nasdaq worth $119,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. MV Capital Management Inc. purchased a new position in shares of Nasdaq in the fourth quarter worth approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in Nasdaq in the 4th quarter worth approximately $34,000. Nemes Rush Group LLC acquired a new position in Nasdaq in the 4th quarter worth approximately $35,000. Uniplan Investment Counsel Inc. purchased a new position in Nasdaq during the 4th quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Nasdaq during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ opened at $82.24 on Monday. The firm has a fifty day moving average of $88.72 and a two-hundred day moving average of $89.96. 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 12-month low of $77.09 and a 12-month high of $101.79. The firm has a market capitalization of $46.51 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Nasdaq's revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts expect that Nasdaq, Inc. will post 3.86 EPS for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. This is an increase from Nasdaq's previous quarterly dividend of $0.27. The ex-dividend date is Friday, June 12th. Nasdaq's dividend payout ratio is presently 37.35%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Raymond James Financial restated an "outperform" rating and issued a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. Barclays upped their price target on Nasdaq from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Loop Capital set a $113.00 price objective on Nasdaq in a research note on Friday, April 24th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, TD Cowen raised Nasdaq from a "hold" rating to a "buy" rating and lifted their target price for the company from $105.00 to $106.00 in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Nasdaq presently has an average rating of "Moderate Buy" and a consensus price target of $107.36.

Insider Buying and Selling

In related news, CEO Adena T. Friedman sold 113,611 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total value of $9,706,923.84. Following the completion of the sale, the chief executive officer owned 1,965,751 shares of the company's stock, valued at approximately $167,953,765.44. The trade was a 5.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Ab Investor acquired 56,782 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the acquisition, the insider directly owned 58,439,208 shares of the company's stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 138,162 shares of company stock worth $11,932,913. Insiders own 0.60% of the company's stock.

Nasdaq Company Profile

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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