Nasdaq, Inc. $NDAQ Shares Acquired by Campbell Newman Asset Management Inc.

Key Points

• Campbell Newman Asset Management Inc. increased its stake in Nasdaq, Inc. by 38.8% during the 2nd quarter, acquiring a total of 334,274 shares valued at approximately $29.9 million.
• Multiple hedge funds, including Nuveen LLC and Invesco Ltd., have significantly adjusted their positions in Nasdaq, with institutional investors owning 72.47% of the company's stock.
• Nasdaq recently declared a quarterly dividend of $0.27 per share, which represents an annualized dividend yield of 1.2%.

Campbell Newman Asset Management Inc. lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 38.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 334,274 shares of the financial services provider's stock after purchasing an additional 93,455 shares during the quarter. Nasdaq accounts for approximately 2.4% of Campbell Newman Asset Management Inc.'s holdings, making the stock its 19th largest position. Campbell Newman Asset Management Inc. owned approximately 0.06% of Nasdaq worth $29,891,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Nuveen LLC acquired a new position in shares of Nasdaq during the 1st quarter valued at $241,614,000. Invesco Ltd. boosted its position in shares of Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock worth $416,795,000 after buying an additional 1,592,057 shares during the period. GAMMA Investing LLC boosted its position in Nasdaq by 7,367.6% during the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock worth $85,671,000 after acquiring an additional 1,114,205 shares during the period. Massachusetts Financial Services Co. MA grew its position in Nasdaq by 5.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock valued at $1,550,115,000 after purchasing an additional 993,553 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Nasdaq by 104.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider's stock worth $125,574,000 after acquiring an additional 845,725 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the sale, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. This represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,304 shares of company stock worth $2,035,896 over the last three months. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NDAQ shares. Morgan Stanley lifted their price target on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 price objective (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Piper Sandler raised their target price on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Stock Up 1.4%

Nasdaq stock opened at $88.71 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The firm has a fifty day moving average price of $93.62 and a two-hundred day moving average price of $85.25. The firm has a market cap of $50.90 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 1.92 and a beta of 1.02.

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

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. 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.

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