Hsbc Holdings PLC Sells 46,079 Shares of Nasdaq, Inc. $NDAQ

Key Points

• HSBC Holdings PLC reduced its Nasdaq stake by 3.6% in the fourth quarter, selling 46,079 shares and leaving it with 1,225,879 shares valued at about $119.3 million.
• Nasdaq reported strong quarterly results, posting $0.96 EPS versus the $0.93 estimate and revenue of $2.14 billion, well above expectations and up 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 per share from $0.27, while analysts maintain a generally positive view with a consensus rating of Moderate Buy and average price target of $107.54.

Hsbc Holdings PLC cut its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,225,879 shares of the financial services provider's stock after selling 46,079 shares during the quarter. Hsbc Holdings PLC owned 0.22% of Nasdaq worth $119,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NDAQ. Legal & General Group Plc grew its holdings in Nasdaq by 1.6% in the fourth quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider's stock worth $277,329,000 after purchasing an additional 45,783 shares during the period. M&T Bank Corp lifted its holdings in shares of Nasdaq by 27.5% during the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider's stock valued at $5,933,000 after purchasing an additional 13,160 shares during the last quarter. AlphaCore Capital LLC bought a new stake in shares of Nasdaq in the 4th quarter worth approximately $1,245,000. Advisors Preferred LLC purchased a new stake in shares of Nasdaq in the 4th quarter worth approximately $4,872,000. Finally, MKP Capital Management L.L.C. purchased a new position in Nasdaq during the fourth quarter valued at $33,996,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Performance

NDAQ opened at $84.66 on Friday. The company's 50 day moving average is $87.58 and its 200 day moving average is $89.28. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.69 and a beta of 0.99. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its 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. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The firm's revenue was up 13.7% on a year-over-year basis. On average, equities research analysts predict that Nasdaq, Inc. will post 3.87 EPS for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were 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 was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Nasdaq's dividend payout ratio is presently 37.35%.

Insider Activity

In other Nasdaq news, insider Cohen Tal sold 15,518 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the sale, the insider owned 215,208 shares in the company, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michelle Lynn Daly sold 1,323 shares of the firm'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 sale, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 24,551 shares of company stock valued at $2,225,990. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NDAQ shares. TD Cowen cut their target price on Nasdaq from $104.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Keefe, Bruyette & Woods lifted their price target on Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Loop Capital set a $113.00 price target on shares of Nasdaq in a research note on Friday, April 24th. Barclays raised their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.54.

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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