IFP Advisors Inc Boosts Stake in Nasdaq, Inc. $NDAQ

Key Points

• IFP Advisors Inc increased its stake in Nasdaq, Inc. by 2,307.8% during Q2, now owning 11,702 shares valued at approximately $1,060,000.
• Nasdaq reported a quarterly earnings of $0.85 EPS, exceeding estimates, with revenue of $1.31 billion, a 12.7% year-over-year increase.
• The company declared a quarterly dividend of $0.27 per share, with an annualized dividend yield of 1.2% and a payout ratio of 41.54%.

IFP Advisors Inc boosted its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 2,307.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,702 shares of the financial services provider's stock after buying an additional 11,216 shares during the quarter. IFP Advisors Inc's holdings in Nasdaq were worth $1,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC raised its holdings in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. Grove Bank & Trust raised its holdings in Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 216 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 317 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Nasdaq in the 1st quarter valued at $26,000. Finally, First Command Advisory Services Inc. acquired a new position in Nasdaq in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $88.90 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company's 50-day simple moving average is $92.68 and its 200-day simple moving average is $86.01. The stock has a market capitalization of $51.01 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.02 and a beta of 0.98.

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

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq's dividend payout ratio (DPR) is presently 41.54%.

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 value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company's stock, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on NDAQ. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Morgan Stanley set a $90.00 price objective on Nasdaq and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Piper Sandler upped their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $108.00 price objective on shares of Nasdaq in a report on Thursday. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq currently has an average rating of "Moderate Buy" and an average target price of $97.25.

Nasdaq 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.

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