Lord Abbett & CO. LLC Increases Position in Nasdaq, Inc. $NDAQ

Key Points

• Lord Abbett & CO. LLC increased its holdings in Nasdaq, Inc. by 104.5% during the 1st quarter, owning about 0.29% of the company worth approximately $125.57 million.
• Nasdaq reported $0.85 earnings per share for its last quarter, exceeding analysts’ expectations of $0.78, with a revenue of $1.31 billion, up 12.7% year-over-year.
• The company recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.1% and a payout ratio of 41.54%.

Lord Abbett & CO. LLC boosted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 104.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,655,341 shares of the financial services provider's stock after acquiring an additional 845,725 shares during the quarter. Lord Abbett & CO. LLC owned about 0.29% of Nasdaq worth $125,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in Nasdaq by 7.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after acquiring an additional 3,096 shares during the period. USA Financial Formulas raised its stake in shares of Nasdaq by 61.1% during the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock worth $1,353,000 after buying an additional 6,764 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock worth $172,098,000 after buying an additional 27,622 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of Nasdaq during the 1st quarter worth approximately $222,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Oppenheimer reissued an "outperform" rating and set a $101.00 target price (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Piper Sandler raised their price objective on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and raised their price objective for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.06.

Insider Buying and Selling

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares in the company, valued at $9,867,680.45. The trade was a 9.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider owned 211,405 shares in the company, valued at approximately $17,552,957.15. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,409 shares of company stock worth $2,887,839. Company insiders own 0.70% of the company's stock.

Nasdaq Trading Down 0.4%

Shares of NDAQ stock traded down $0.34 during mid-day trading on Monday, hitting $94.34. 2,795,783 shares of the company's stock were exchanged, compared to its average volume of 3,309,298. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The stock has a 50-day simple moving average of $90.82 and a two-hundred day simple moving average of $82.38. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock has a market cap of $54.13 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 2.08 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates 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 earned $0.69 earnings per share. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 12th. Nasdaq's payout ratio is currently 41.54%.

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.