Kestra Private Wealth Services LLC Has $556,000 Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Kestra Private Wealth Services LLC increased its holdings in Nasdaq, Inc. by 57.4% during the first quarter, bringing its total ownership to 7,333 shares valued at $556,000.
• Several institutional investors, including Norges Bank and Ameriprise Financial Inc., have significantly modified their stakes in Nasdaq, collectively holding over 72% of the stock.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price of $96.63, following upgrades from multiple brokerages.

Kestra Private Wealth Services LLC lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 57.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,333 shares of the financial services provider's stock after acquiring an additional 2,673 shares during the period. Kestra Private Wealth Services LLC's holdings in Nasdaq were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDAQ. LPL Financial LLC raised its position in Nasdaq by 17.9% during the fourth quarter. LPL Financial LLC now owns 441,271 shares of the financial services provider's stock valued at $34,115,000 after purchasing an additional 66,968 shares during the period. Congress Wealth Management LLC DE increased its holdings in Nasdaq by 3.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 7,464 shares of the financial services provider's stock worth $577,000 after purchasing an additional 270 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in Nasdaq during the 4th quarter worth $43,000. Korea Investment CORP increased its holdings in Nasdaq by 10.9% during the 4th quarter. Korea Investment CORP now owns 297,577 shares of the financial services provider's stock worth $23,006,000 after purchasing an additional 29,257 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Nasdaq by 14.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 682,229 shares of the financial services provider's stock worth $53,364,000 after purchasing an additional 87,096 shares during the period. 72.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NDAQ has been the topic of several research reports. Oppenheimer restated an "outperform" rating and set a $101.00 price objective (up from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley raised their price objective on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $115.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Nasdaq currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.63.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 2,105 shares of the business's 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 of the company's stock, valued at $8,440,475.52. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the sale, the executive vice president directly owned 111,035 shares of the company's stock, valued at $9,867,680.45. The trade was a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,613 shares of company stock worth $1,874,659 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Trading Up 0.3%

Shares of NASDAQ NDAQ traded up $0.33 during trading on Tuesday, hitting $95.47. 965,532 shares of the company traded hands, compared to its average volume of 3,339,165. Nasdaq, Inc. has a 1 year low of $64.33 and a 1 year high of $95.70. The company has a 50-day moving average price of $87.14 and a 200-day moving average price of $80.77. The firm has a market capitalization of $54.81 billion, a P/E ratio of 36.68, a P/E/G ratio of 2.25 and a beta of 1.01. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. Nasdaq's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, equities analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, September 12th. Nasdaq's payout ratio is 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.