Nasdaq, Inc. (NASDAQ:NDAQ) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 18.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,864 shares of the financial services provider's stock after buying an additional 5,789 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Nasdaq were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NDAQ. Norges Bank purchased a new position in shares of Nasdaq during the 4th quarter valued at approximately $424,285,000. Ameriprise Financial Inc. lifted its position in shares of Nasdaq by 37.9% during the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Nasdaq during the 4th quarter valued at approximately $105,481,000. Franklin Resources Inc. lifted its position 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 valued at $802,401,000 after buying an additional 1,225,672 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Nasdaq by 40.3% during the 4th quarter. Invesco Ltd. now owns 3,902,214 shares of the financial services provider's stock valued at $301,680,000 after buying an additional 1,120,538 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Royal Bank Of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Nasdaq in a research report on Thursday, April 10th. UBS Group reissued a "cautious" rating on shares of Nasdaq in a research note on Monday, April 28th. Morgan Stanley downgraded Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 price objective for the company. in a research note on Tuesday, April 8th. Finally, Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.19.

Nasdaq Stock Up 0.8%

Shares of NDAQ opened at $89.08 on Friday. Nasdaq, Inc. has a 52-week low of $59.46 and a 52-week high of $89.48. The company has a market capitalization of $51.14 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 2.28 and a beta of 1.00. The stock has a fifty day simple moving average of $81.87 and a two-hundred day simple moving average of $79.02. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned $0.63 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Nasdaq's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. Nasdaq's dividend payout ratio (DPR) is 49.09%.

Insiders Place Their Bets

In other news, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the transaction, the insider now directly owns 211,405 shares in the company, valued at approximately $17,552,957.15. This represents a 3.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan Everard Smith sold 657 shares of the stock in a transaction on 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 of the company's stock, 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. Corporate insiders own 0.70% of the company's stock.

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.

Want to see what other hedge funds are holding NDAQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nasdaq, Inc. (NASDAQ:NDAQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.