California State Teachers Retirement System Has $49.39 Million Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

California State Teachers Retirement System raised its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 638,867 shares of the financial services provider's stock after buying an additional 9,178 shares during the period. California State Teachers Retirement System owned 0.11% of Nasdaq worth $49,391,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NDAQ. Vanguard Group Inc. lifted its stake in shares of Nasdaq by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider's stock worth $4,064,682,000 after buying an additional 376,893 shares during the last quarter. Geode Capital Management LLC grew its position in Nasdaq by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 11,018,705 shares of the financial services provider's stock worth $849,783,000 after purchasing an additional 257,465 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider's stock worth $802,401,000 after purchasing an additional 1,225,672 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Nasdaq by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider's stock valued at $537,640,000 after buying an additional 335,565 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Nasdaq by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock valued at $464,676,000 after buying an additional 1,650,201 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In related news, insider Pc Nelson Griggs sold 8,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the sale, the insider now owns 211,405 shares in the company, valued at $17,552,957.15. This represents a 3.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the transaction, the executive vice president now owns 61,980 shares in the company, valued at approximately $4,450,783.80. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,616 shares of company stock worth $1,813,598 in the last three months. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NDAQ shares. Bank of America upped their target price on Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Barclays lowered their target price on shares of Nasdaq from $86.00 to $84.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Morgan Stanley downgraded Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 price objective on the stock. in a report on Tuesday, April 8th. Piper Sandler raised their target price on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Citigroup lowered their price target on Nasdaq from $84.00 to $75.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.50.

Nasdaq Trading Down 0.1%

Shares of NDAQ traded down $0.08 during trading hours on Friday, hitting $83.30. 4,803,931 shares of the stock traded hands, compared to its average volume of 2,940,016. The business has a fifty day moving average of $76.38 and a 200-day moving average of $78.28. The firm has a market capitalization of $47.82 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a 1-year low of $58.28 and a 1-year high of $84.15. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the previous year, the company earned $0.63 EPS. Nasdaq's revenue was up 10.7% on a year-over-year basis. Analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. This is a boost from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.30%. Nasdaq's payout ratio is presently 49.09%.

About Nasdaq

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.