Alliancebernstein L.P. Increases Stake in Nasdaq, Inc. $NDAQ

Key Points

• Alliancebernstein L.P. increased its stake in Nasdaq, Inc. by 1.1% in Q1, owning 450,884 shares valued at approximately $34.2 million.
• Nasdaq has received favorable ratings from several analysts, with target prices ranging from $86.00 to $109.00, indicating a strong bullish outlook on the stock.
• The company declared a quarterly dividend of $0.27 per share, representing an annualized dividend yield of 1.1% based on the recent stock price.

Alliancebernstein L.P. boosted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 450,884 shares of the financial services provider's stock after acquiring an additional 4,754 shares during the period. Alliancebernstein L.P. owned 0.08% of Nasdaq worth $34,204,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vestcor Inc grew its stake in Nasdaq by 1.6% during the first quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock valued at $669,000 after acquiring an additional 141 shares in the last quarter. Sax Wealth Advisors LLC boosted its position in shares of Nasdaq by 0.5% during the 1st quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider's stock valued at $2,282,000 after acquiring an additional 144 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of Nasdaq by 1.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock valued at $1,260,000 after acquiring an additional 157 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of Nasdaq by 7.1% during the 1st quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 187 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 216 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on NDAQ. Piper Sandler increased their target price on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods increased their target price on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Barclays increased their target price on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Oppenheimer restated an "outperform" rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Trading Down 2.0%

NDAQ stock traded down $1.93 during midday trading on Friday, reaching $93.95. The company's stock had a trading volume of 2,947,784 shares, compared to its average volume of 2,459,310. 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 stock has a fifty day simple moving average of $93.60 and a two-hundred day simple moving average of $84.18. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The firm has a market capitalization of $53.91 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.10 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share 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 quarter last year, the firm posted $0.69 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is presently 41.54%.

Insiders Place Their Bets

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction 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 in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,409 shares of company stock worth $2,223,599 over the last quarter. Company insiders own 0.70% of the company's stock.

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.