DAVENPORT & Co LLC Increases Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

DAVENPORT & Co LLC grew its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,959 shares of the financial services provider's stock after acquiring an additional 4,004 shares during the period. DAVENPORT & Co LLC's holdings in Nasdaq were worth $4,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Nasdaq by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider's stock valued at $4,064,682,000 after purchasing an additional 376,893 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Nasdaq by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 11,018,705 shares of the financial services provider's stock valued at $849,783,000 after buying an additional 257,465 shares in the last quarter. Franklin Resources Inc. lifted its stake 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. The Manufacturers Life Insurance Company boosted its holdings in Nasdaq by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider's stock worth $537,640,000 after buying an additional 335,565 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Nasdaq by 37.9% in the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after buying an additional 1,650,201 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total transaction of $187,702.85. Following the completion of the sale, the executive vice president directly owned 94,656 shares in the company, valued at approximately $8,440,475.52. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of the company's stock in a transaction that occurred 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 directly owned 211,405 shares in the company, valued at approximately $17,552,957.15. The trade was a 3.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,613 shares of company stock worth $1,874,659. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on NDAQ. Oppenheimer set a $96.00 price objective on shares of Nasdaq and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Bank of America boosted their price target on shares of Nasdaq from $103.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Royal Bank Of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Nasdaq in a research report on Thursday, April 10th. UBS Group reiterated a "cautious" rating on shares of Nasdaq in a research report on Monday, April 28th. Finally, Piper Sandler increased their price target on Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.06.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ traded up $0.41 during trading hours on Friday, reaching $89.93. The stock had a trading volume of 1,433,250 shares, compared to its average volume of 3,055,672. The firm has a 50-day moving average of $83.20 and a 200-day moving average of $79.26. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.31 and a beta of 1.01. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Nasdaq, Inc. has a fifty-two week low of $59.95 and a fifty-two week high of $90.35.

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

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio is currently 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.