Meiji Yasuda Asset Management Co Ltd. Has $1.09 Million Stake in Nasdaq, Inc. $NDAQ

Key Points

• Meiji Yasuda Asset Management cut its Nasdaq stake by 61.9% in the fourth quarter, selling 18,180 shares and ending with 11,184 shares valued at about $1.09 million.
• Nasdaq reported better-than-expected quarterly results, with EPS of $0.96 versus $0.93 expected and revenue of $2.14 billion, up 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $107.15.

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 61.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,184 shares of the financial services provider's stock after selling 18,180 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Nasdaq were worth $1,086,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NDAQ. Westside Investment Management Inc. boosted its holdings in shares of Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new stake in shares of Nasdaq during the 4th quarter valued at $34,000. Elyxium Wealth LLC acquired a new position in Nasdaq during the 4th quarter worth about $44,000. Community Bank N.A. acquired a new position in Nasdaq during the 3rd quarter worth about $45,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $45,000 after buying an additional 463 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.

Insiders Place Their Bets

In other news, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the transaction, the executive vice president directly owned 141,035 shares of the company's stock, valued at approximately $12,808,798.70. This trade represents a 5.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michelle Lynn Daly sold 1,323 shares of Nasdaq stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president directly owned 10,089 shares of the company's stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 231,002 shares of company stock valued at $20,295,941. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NDAQ shares. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $108.00 target price on shares of Nasdaq in a report on Friday, January 30th. TD Cowen raised Nasdaq from a "hold" rating to a "buy" rating and lifted their target price for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. Loop Capital set a $113.00 target price on Nasdaq in a report on Friday, April 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. One equities 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.15.

Nasdaq Stock Performance

NDAQ stock opened at $91.01 on Friday. The stock has a 50-day moving average price of $87.62 and a 200-day moving average price of $89.86. Nasdaq, Inc. has a 1-year low of $77.09 and a 1-year high of $101.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $51.47 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.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 company posted $0.79 EPS. The business's quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

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

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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