Indivisible Partners Makes New $6.45 Million Investment in Nasdaq, Inc. $NDAQ

Key Points

• Indivisible Partners opened a new position in Nasdaq, buying 66,374 shares worth about $6.45 million, which represents 0.7% of its portfolio and is its 29th largest holding.
• Nasdaq beat quarterly expectations with $0.96 EPS vs. $0.93 and revenue of $2.14 billion (up 13.7% YoY), and analysts hold a consensus "Moderate Buy" with a $107.15 price target.
• The company raised its quarterly dividend to $0.31 (annualized $1.24, ~1.4% yield), even as insiders have been net sellers recently (231,002 shares sold in the last 90 days) and institutional ownership stands at 72.47%.

Indivisible Partners bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 66,374 shares of the financial services provider's stock, valued at approximately $6,447,000. Nasdaq accounts for 0.7% of Indivisible Partners' portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in shares of Nasdaq by 100.0% during the third quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after buying an additional 159 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Nasdaq during the third quarter valued at approximately $30,000. SOA Wealth Advisors LLC. bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $34,000. Community Bank N.A. bought a new stake in shares of Nasdaq during the third quarter valued at approximately $45,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Nasdaq by 345.5% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $45,000 after buying an additional 463 shares during the last quarter. Institutional investors own 72.47% of the company's stock.

Nasdaq Trading Down 2.5%

NDAQ stock opened at $89.00 on Wednesday. The firm has a fifty day moving average price of $86.63 and a 200 day moving average price of $89.65. Nasdaq, Inc. has a fifty-two week low of $77.09 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $50.33 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $0.79 earnings per share. Nasdaq's revenue for the quarter was up 13.7% compared to the same quarter last year. Sell-side analysts anticipate that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq's payout ratio is presently 32.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NDAQ shares. Loop Capital set a $113.00 price objective on shares of Nasdaq in a research report on Friday, April 24th. Raymond James Financial reiterated an "outperform" rating and set a $109.00 price objective on shares of Nasdaq in a research report on Wednesday, February 25th. TD Cowen upgraded shares of Nasdaq from a "hold" rating to a "buy" rating and lifted their price objective for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. Argus upgraded shares of Nasdaq to a "strong-buy" rating in a research report on Wednesday, February 11th. Finally, UBS Group reissued a "buy" rating and issued a $120.00 target price (up from $115.00) on shares of Nasdaq in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Nasdaq currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.15.

Insider Activity

In other Nasdaq news, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction 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 completion of the transaction, the insider directly owned 215,208 shares of the company's stock, valued at $19,530,126. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of Nasdaq stock in a transaction on Friday, April 24th. The stock was sold at an average price of $88.82, for a total transaction of $117,508.86. Following the transaction, the senior vice president directly owned 10,089 shares of the company's stock, valued at $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 231,002 shares of company stock valued at $20,295,941 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

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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