Oppenheimer & Co. Inc. Trims Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Oppenheimer & Co. Inc. lowered its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 35.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,920 shares of the financial services provider's stock after selling 5,375 shares during the period. Oppenheimer & Co. Inc.'s holdings in Nasdaq were worth $753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Grove Bank & Trust raised its position in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares during the period. Highline Wealth Partners LLC increased 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 valued at $26,000 after purchasing an additional 317 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Nasdaq in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Nasdaq in the 1st quarter worth about $26,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Nasdaq during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NDAQ. Piper Sandler upped their target price on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $87.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Redburn Atlantic upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Thursday, April 17th. Citigroup dropped their target price on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group reissued a "cautious" rating on shares of Nasdaq in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.06.

Insider Transactions at Nasdaq

In other news, insider Pc Nelson Griggs sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the sale, the insider owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president directly owned 61,980 shares in the company, valued at approximately $4,450,783.80. The trade was a 1.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Nasdaq Price Performance

Shares of Nasdaq stock traded up $0.58 on Wednesday, hitting $89.52. 3,767,615 shares of the company were exchanged, compared to its average volume of 3,054,585. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $82.57 and a 200 day moving average price of $79.12. The stock has a market capitalization of $51.40 billion, a price-to-earnings ratio of 40.69, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Nasdaq, Inc. has a 1-year low of $59.95 and a 1-year high of $89.75.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. As a group, sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.27 per share. This is a boost from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date was Friday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. Nasdaq's payout ratio is presently 49.09%.

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.