Ieq Capital LLC Increases Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Ieq Capital LLC increased its stake in Nasdaq, Inc. by 19.5% during the 1st quarter, now holding shares worth approximately $2.40 million.
• A significant number of institutional investors have modified their positions in Nasdaq, demonstrating strong interest, with 72.47% of the company's stock now owned by institutions and hedge funds.
• Nasdaq recently declared a quarterly dividend of $0.27 per share, representing an annualized yield of 1.1% with a dividend payout ratio of 41.54%.

Ieq Capital LLC raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 19.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,663 shares of the financial services provider's stock after purchasing an additional 5,161 shares during the quarter. Ieq Capital LLC's holdings in Nasdaq were worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Nasdaq by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 52,979,661 shares of the financial services provider's stock valued at $4,019,037,000 after purchasing an additional 403,248 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Nasdaq by 5.1% during the 1st 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 acquiring an additional 993,553 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Nasdaq by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after acquiring an additional 1,650,201 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Nasdaq by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,785,047 shares of the financial services provider's stock worth $438,854,000 after acquiring an additional 484,750 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock worth $416,795,000 after acquiring an additional 1,592,057 shares during the period. Institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NDAQ shares. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and increased their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Barclays increased their price target on Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ traded up $0.53 on Thursday, hitting $94.30. The company's stock had a trading volume of 3,693,337 shares, compared to its average volume of 3,248,660. The company has a 50-day simple moving average of $92.87 and a 200 day simple moving average of $83.51. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The company has a market capitalization of $54.11 billion, a PE ratio of 36.27, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

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

Nasdaq Announces Dividend

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

Insider Activity at Nasdaq

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,409 shares of company stock valued at $2,223,599. Corporate insiders own 0.70% of the company's stock.

Nasdaq Company Profile

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.