Keebeck Wealth Management Acquires Shares of 29,752 Nasdaq, Inc. $NDAQ

Key Points

• Keebeck Wealth Management acquired 29,752 shares of Nasdaq, valued at approximately $2.35 million, during the second quarter. Institutional investors collectively own 72.47% of the company.
• Analysts remain broadly bullish, with Nasdaq receiving an average “Buy” rating and a consensus price target of $110.30; several firms recently raised their targets.
• Nasdaq reported quarterly EPS of $1.07, surpassing estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. The company also declared a quarterly dividend of $0.31 per share.

Keebeck Wealth Management bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,752 shares of the financial services provider's stock, valued at approximately $2,345,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. MV Capital Management Inc. purchased a new position in Nasdaq in the 4th quarter valued at about $28,000. Nemes Rush Group LLC acquired a new stake in Nasdaq in the 4th quarter worth about $35,000. Uniplan Investment Counsel Inc. purchased a new stake in Nasdaq during the 4th quarter worth approximately $35,000. Fideuram Asset Management Ireland dac purchased a new stake in Nasdaq during the 4th quarter worth approximately $37,000. Finally, Reflection Asset Management acquired a new position in shares of Nasdaq during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Activity at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, the insider directly owned 205,001 shares of the company's stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley J. Peterson sold 13,000 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares in the company, valued at $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James Financial restated an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. TD Cowen reiterated a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Loop Capital set a $113.00 price objective on Nasdaq in a report on Friday, April 24th. Finally, Zacks Research raised shares of Nasdaq from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $110.30.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $98.22 on Friday. The business's 50 day moving average price is $89.85 and its 200 day moving average price is $88.04. The company has a market cap of $54.90 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company earned $0.85 EPS. The company's revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq's dividend payout ratio is currently 36.15%.

Nasdaq Company Profile

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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