OFI Invest Asset Management Decreases Holdings in Nasdaq, Inc. $NDAQ

Key Points

• OFI Invest Asset Management reduced its holdings in Nasdaq, Inc. by 16.0% during the second quarter, resulting in ownership of 141,499 shares valued at approximately $12.65 million.
• Nasdaq's stock received multiple upgrades from analysts with an average price target of $97.25 and a significant majority of 15 Buy ratings.
• The company reported a quarterly earnings per share (EPS) of $0.85, surpassing expectations, and announced a quarterly dividend of $0.27 per share, translating to an annual yield of 1.2%.

OFI Invest Asset Management decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,499 shares of the financial services provider's stock after selling 26,864 shares during the period. OFI Invest Asset Management's holdings in Nasdaq were worth $12,653,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NDAQ. Bruce G. Allen Investments LLC boosted its stake in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after purchasing an additional 120 shares during the period. Grove Bank & Trust boosted its stake 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 worth $25,000 after purchasing an additional 216 shares during the period. Highline Wealth Partners LLC boosted its stake in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Nasdaq during the 1st quarter worth about $26,000. Finally, First Command Advisory Services Inc. purchased a new stake in Nasdaq in the 1st quarter valued at about $30,000. Institutional investors own 72.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a research report on Saturday, September 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Raymond James Financial restated an "outperform" rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $108.00 price target on shares of Nasdaq in a report on Thursday. Finally, UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.25.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ opened at $88.90 on Friday. The company's fifty day moving average price is $92.68 and its 200 day moving average price is $85.94. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The company has a market capitalization of $51.01 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted 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. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is presently 41.54%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the 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 transaction, the executive vice president directly owned 92,551 shares of the company's stock, valued at $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

About Nasdaq

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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