Promethium Advisors LLC Buys 6,057 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Promethium Advisors LLC increased its stake in Nasdaq, Inc. by 28.9% during Q1, acquiring an additional 6,057 shares, bringing its total to 27,006 shares valued at approximately $2,049,000.
• Nasdaq reported $1.31 billion in revenue for the last quarter, exceeding analysts' expectations, and posted earnings of $0.85 per share, beating estimates of $0.78.
• Brokerages have recently upgraded their ratings on Nasdaq, with 14 analysts rating it as a "Buy" and an average price target of $97.06.

Promethium Advisors LLC increased its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 28.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,006 shares of the financial services provider's stock after acquiring an additional 6,057 shares during the quarter. Nasdaq comprises about 1.3% of Promethium Advisors LLC's holdings, making the stock its 24th biggest holding. Promethium Advisors LLC's holdings in Nasdaq were worth $2,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust grew 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 purchasing an additional 216 shares in the last quarter. Highline Wealth Partners LLC raised its stake in Nasdaq by 1,509.5% in the first 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. Opal Wealth Advisors LLC bought a new stake in Nasdaq during the first quarter valued at approximately $26,000. First Command Advisory Services Inc. purchased a new position in Nasdaq in the 1st quarter worth approximately $30,000. Finally, AlphaQuest LLC purchased a new stake in shares of Nasdaq during the 1st quarter valued at $34,000. Institutional investors own 72.47% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NDAQ. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Morgan Stanley increased their price objective on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating and set a $101.00 price objective (up from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada upped their target price on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Fourteen investment 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 presently has an average rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $94.74 on Tuesday. The stock has a 50 day moving average price of $92.64 and a two-hundred day moving average price of $83.36. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. 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 company has a market capitalization of $54.36 billion, a P/E ratio of 36.44, a PEG ratio of 2.08 and a beta of 1.02.

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 (EPS) for the quarter, beating 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 company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Nasdaq's revenue was up 12.7% compared to the same quarter last year. Analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

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

Insider Buying and Selling

In other 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 sale, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the business's 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 transaction, the executive vice president owned 111,035 shares in the company, valued at $9,867,680.45. This represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,409 shares of company stock valued at $2,223,599 over the last quarter. 0.70% of the stock is owned by company insiders.

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.

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