Hsbc Holdings PLC Sells 106,506 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Hsbc Holdings PLC has reduced its stake in Nasdaq, Inc. by 10.3%, selling 106,506 shares and now owning approximately 0.16% of the company, valued at $70.17 million.
• Nasdaq, Inc. reported a quarterly earnings per share of $0.85, exceeding analysts' expectations, with revenue increasing by 12.7% year-over-year to $1.31 billion.
• The company recently declared a quarterly dividend of $0.27 per share, resulting in an annualized dividend of $1.08 and a yield of 1.1%.

Hsbc Holdings PLC lowered its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 927,015 shares of the financial services provider's stock after selling 106,506 shares during the period. Hsbc Holdings PLC owned about 0.16% of Nasdaq worth $70,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDAQ. Vanguard Group Inc. raised its position in shares of Nasdaq by 0.8% in the first quarter. Vanguard Group Inc. now owns 52,979,661 shares of the financial services provider's stock valued at $4,019,037,000 after buying an additional 403,248 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Nasdaq by 5.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after purchasing an additional 993,553 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Nasdaq by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider's stock worth $537,640,000 after purchasing an additional 335,565 shares during the last quarter. Ameriprise Financial Inc. increased its position in Nasdaq by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after purchasing an additional 1,650,201 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Nasdaq by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 5,785,047 shares of the financial services provider's stock worth $438,854,000 after purchasing an additional 484,750 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Insider Activity

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the transaction, the insider directly owned 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 sold 32,409 shares of company stock worth $2,887,839 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on NDAQ. Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. 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. Piper Sandler boosted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price objective on shares of Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Nasdaq Stock Up 0.8%

NASDAQ NDAQ traded up $0.79 during trading hours on Friday, reaching $94.75. 2,038,358 shares of the company traded hands, compared to its average volume of 3,088,078. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $54.37 billion, a PE ratio of 36.44, a PEG ratio of 2.08 and a beta of 1.00. The company has a 50 day moving average of $91.63 and a two-hundred day moving average of $82.80.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm posted $0.69 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is 41.54%.

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.