Prosperity Consulting Group LLC Has $2.77 Million Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Prosperity Consulting Group LLC reduced its stake in Nasdaq, Inc. by 9.2%, holding 36,458 shares valued at approximately $2.77 million.
• Institutional investors and hedge funds collectively own 72.47% of Nasdaq's stock, indicating strong support from large financial players.
• Nasdaq recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.14% with a payout ratio of 41.54%.

Prosperity Consulting Group LLC trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,458 shares of the financial services provider's stock after selling 3,715 shares during the period. Prosperity Consulting Group LLC's holdings in Nasdaq were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in NDAQ. Grove Bank & Trust increased its stake in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the first quarter worth $26,000. Highline Wealth Partners LLC increased its stake in shares of Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after acquiring an additional 317 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of Nasdaq in the first quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Nasdaq in the fourth quarter valued at about $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NDAQ. Raymond James Financial reiterated an "outperform" rating and set a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Oppenheimer restated an "outperform" rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Bank of America lifted their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their price target on shares of Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $96.63.

Nasdaq Stock Performance

Shares of NDAQ traded up $0.35 during midday trading on Thursday, hitting $96.34. 1,412,397 shares of the stock traded hands, compared to its average volume of 3,343,100. Nasdaq, Inc. has a 1-year low of $64.33 and a 1-year high of $97.07. The firm has a market capitalization of $55.28 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 0.96. The business's 50 day moving average price is $87.72 and its two-hundred day moving average price is $80.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) 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 the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.12%. Nasdaq's payout ratio is presently 41.54%.

Insider Buying and Selling

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total value of $187,702.85. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 30,304 shares of company stock worth $2,686,833 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

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.