Raymond James Financial Inc. Has $100.13 Million Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Raymond James Financial Inc. reduced its stake in Nasdaq, Inc. by 3.3%, now owning approximately $100.13 million worth of shares after selling 44,459 shares.
• Nasdaq's quarterly earnings report showed a profit of $0.85 per share, exceeding analysts' expectations of $0.78, with a revenue of $1.31 billion.
• Several analysts have recently upgraded their ratings for Nasdaq, with UBS raising its price target to $115 and maintaining a "buy" rating.

Raymond James Financial Inc. cut its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,319,929 shares of the financial services provider's stock after selling 44,459 shares during the quarter. Raymond James Financial Inc. owned 0.23% of Nasdaq worth $100,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Grove Bank & Trust raised its holdings in Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in 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 acquiring an additional 317 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Nasdaq in the 1st quarter valued at approximately $26,000. First Command Advisory Services Inc. bought a new position in shares of Nasdaq during the first quarter valued at $30,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Nasdaq during the fourth quarter valued at $37,000. 72.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NDAQ. Barclays lifted their price target on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Piper Sandler lifted their target price on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Oppenheimer reiterated an "outperform" rating and issued a $101.00 price target (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and increased their price target for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Nasdaq Trading Up 0.8%

Nasdaq stock traded up $0.79 during trading hours on Friday, reaching $94.75. 2,038,358 shares of the company's stock were exchanged, compared to its average volume of 2,926,164. The firm's 50 day simple moving average is $91.63 and its 200 day simple moving average is $82.79. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $54.37 billion, a PE ratio of 36.44, a PEG ratio of 2.08 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data 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 period in the previous year, the business earned $0.69 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. Research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend 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 41.54%.

Insider Activity at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the sale, the executive vice president owned 111,035 shares in the company, valued at $9,867,680.45. The trade was a 9.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction on Friday, July 25th. The stock was 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. This represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,409 shares of company stock worth $2,887,839. 0.70% of the stock is owned by 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.