NewEdge Advisors LLC Boosts Holdings in Nasdaq, Inc. $NDAQ

Key Points

• NewEdge Advisors LLC increased its stake in Nasdaq, Inc. by 113.3% in Q1, owning 31,143 shares valued at $2.36 million.
• Nasdaq reported a quarterly earnings per share of $0.85, exceeding analyst expectations of $0.78, and showed a 12.7% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.27 per share, with a dividend yield of 1.1%, scheduled for distribution on September 26th.

NewEdge Advisors LLC lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 113.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,143 shares of the financial services provider's stock after buying an additional 16,542 shares during the period. NewEdge Advisors LLC's holdings in Nasdaq were worth $2,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NDAQ. Captrust Financial Advisors lifted its stake in shares of Nasdaq by 19.0% in the fourth quarter. Captrust Financial Advisors now owns 15,571 shares of the financial services provider's stock worth $1,204,000 after buying an additional 2,481 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Nasdaq by 11.7% in the fourth quarter. Cetera Investment Advisers now owns 27,221 shares of the financial services provider's stock worth $2,104,000 after buying an additional 2,844 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Nasdaq by 550.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 30,761 shares of the financial services provider's stock worth $2,378,000 after buying an additional 26,033 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its stake in shares of Nasdaq by 1.0% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock worth $1,260,000 after buying an additional 157 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in shares of Nasdaq by 25.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 15,042 shares of the financial services provider's stock worth $1,163,000 after buying an additional 3,043 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Shares of NDAQ opened at $94.66 on Thursday. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The stock has a market cap of $54.31 billion, a PE ratio of 36.41, a P/E/G ratio of 2.08 and a beta of 1.02. The firm has a 50-day simple moving average of $93.40 and a two-hundred day simple moving average of $83.95. 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 (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the business earned $0.69 earnings per share. The business'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 EPS for the current year.

Nasdaq Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup restated a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Barclays raised their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Piper Sandler raised their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated 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 directly owned 92,551 shares in the company, valued at $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction dated 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 sale, the executive vice president owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,409 shares of company stock worth $2,223,599 over the last three months. Insiders own 0.70% of the company's stock.

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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