National Bank of Canada FI Boosts Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• National Bank of Canada FI increased its holdings in Nasdaq, Inc. by 42.8% in Q1, owning 321,282 shares valued at $24.37 million.
• Wall Street analysts have given Nasdaq a consensus rating of "Moderate Buy", with an average target price of $97.06 following several price upgrades from various firms.
• Nasdaq recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.1%, with a payout ratio of 41.54%.

National Bank of Canada FI raised its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 42.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,282 shares of the financial services provider's stock after purchasing an additional 96,247 shares during the quarter. National Bank of Canada FI owned 0.06% of Nasdaq worth $24,372,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NDAQ. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares in the last quarter. Highline Wealth Partners LLC grew its stake in shares of Nasdaq by 1,509.5% in the 1st 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 in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq in the 1st quarter worth $26,000. First Command Advisory Services Inc. bought a new stake in shares of Nasdaq in the 1st quarter worth $30,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Nasdaq in the 4th quarter worth $37,000. Institutional investors own 72.47% of the company's stock.

Insider Activity

In related news, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction on Friday, July 25th. The shares were 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. The trade was a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 32,409 shares of company stock worth $2,887,839 over the last ninety days. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NDAQ. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays upped their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Nasdaq Trading Down 0.2%

Shares of Nasdaq stock traded down $0.16 on Thursday, hitting $95.41. The stock had a trading volume of 2,004,746 shares, compared to its average volume of 3,319,109. 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, Inc. has a one year low of $64.84 and a one year high of $97.63. The stock has a market cap of $54.75 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.11 and a beta of 1.00. The stock's 50-day simple moving average is $90.41 and its two-hundred day simple moving average is $82.18.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results 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. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the business earned $0.69 earnings per share. The business's revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

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

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.