Nasdaq, Inc. $NDAQ Shares Bought by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Nasdaq, Inc. by 222.3%, acquiring a total of 22,976 shares worth approximately $1.74 million as of the latest reporting period.
• Nasdaq reported a net revenue of $1.31 billion for the last quarter, exceeding analysts' expectations and showcasing a 12.7% year-over-year growth in revenue.
• The company declared a quarterly dividend of $0.27 per share, representing an annual yield of 1.1% and a payout ratio of 41.54%.

Kovitz Investment Group Partners LLC grew its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 222.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,976 shares of the financial services provider's stock after acquiring an additional 15,848 shares during the period. Kovitz Investment Group Partners LLC's holdings in Nasdaq were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. OneAscent Investment Solutions LLC acquired a new stake in shares of Nasdaq during the 1st quarter valued at approximately $596,000. Lord Abbett & CO. LLC lifted its position in shares of Nasdaq by 104.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider's stock valued at $125,574,000 after acquiring an additional 845,725 shares during the period. GQG Partners LLC acquired a new stake in shares of Nasdaq during the 1st quarter valued at approximately $50,113,000. Financial Network Wealth Advisors LLC lifted its position in shares of Nasdaq by 39.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,021 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 289 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nasdaq during the 1st quarter valued at approximately $109,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Down 0.4%

Shares of NASDAQ NDAQ opened at $94.34 on Tuesday. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The firm has a fifty day moving average of $91.00 and a 200-day moving average of $82.46. The stock has a market capitalization of $54.13 billion, a PE ratio of 36.28, a P/E/G ratio of 2.08 and a beta of 1.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

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

Nasdaq Dividend Announcement

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

Insider Buying and Selling at Nasdaq

In related news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction 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 approximately $9,867,680.45. This represents a 9.39% decrease in their position. 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 on 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 directly owned 211,405 shares of the company's stock, valued at approximately $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,409 shares of company stock valued at $2,887,839 in the last quarter. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NDAQ. Citigroup restated a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Oppenheimer restated an "outperform" rating and set a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Nasdaq Company 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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