Nasdaq, Inc. (NASDAQ:NDAQ) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Nasdaq, Inc. by 12.5% in the first quarter, now holding 19,254 shares valued at approximately $1,461,000.
• Nasdaq reported earnings of $0.85 per share for the latest quarter, surpassing estimates, and has increased quarterly revenue by 12.7% year-over-year.
• The firm announced a $0.27 quarterly dividend with an ex-dividend date of September 12, which leads to an annual yield of 1.1%.

Maryland State Retirement & Pension System reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,254 shares of the financial services provider's stock after selling 2,739 shares during the period. Maryland State Retirement & Pension System's holdings in Nasdaq were worth $1,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its position in shares of Nasdaq by 7.1% during the first quarter. Headlands Technologies LLC now owns 51,267 shares of the financial services provider's stock worth $3,889,000 after purchasing an additional 3,402 shares during the last quarter. Deutsche Bank AG lifted its holdings in Nasdaq by 13.3% in the first quarter. Deutsche Bank AG now owns 1,830,405 shares of the financial services provider's stock worth $138,855,000 after acquiring an additional 214,823 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nasdaq by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,416,602 shares of the financial services provider's stock valued at $183,323,000 after buying an additional 48,681 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Nasdaq during the first quarter valued at approximately $782,000. Finally, Vanguard Group Inc. increased its stake in shares of Nasdaq by 0.8% during the first quarter. Vanguard Group Inc. now owns 52,979,661 shares of the financial services provider's stock valued at $4,019,037,000 after acquiring an additional 403,248 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $96.85 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The firm's 50-day simple moving average is $89.67 and its 200-day simple moving average is $81.88. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.47. The firm has a market cap of $55.57 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued 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 analysts' expectations of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio is currently 41.54%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction of $664,240.00. Following the completion of the sale, the insider directly owned 211,405 shares of the company's stock, valued at $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 ninety days, insiders have sold 32,409 shares of company stock valued at $2,887,839. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NDAQ has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Oppenheimer reaffirmed an "outperform" rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.06.

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.

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