Ridgewood Investments LLC Has $454,000 Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Ridgewood Investments LLC reduced its Nasdaq holdings by 65.4%, selling 9,580 shares and ending up with 5,077 shares valued at $454,000.
• Nasdaq's Q2 earnings exceeded expectations, reporting $0.85 EPS against an estimate of $0.78, with year-over-year revenue growth of 12.7%.
• Nasdaq recently declared a quarterly dividend of $0.27 per share, to be paid on September 26, reflecting a yield of 1.2% with a payout ratio of 41.54%.

Ridgewood Investments LLC cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 65.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,077 shares of the financial services provider's stock after selling 9,580 shares during the period. Ridgewood Investments LLC's holdings in Nasdaq were worth $454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Nasdaq by 7.7% during the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after purchasing an additional 3,096 shares in the last quarter. USA Financial Formulas increased its position in Nasdaq by 61.1% in the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock valued at $1,353,000 after acquiring an additional 6,764 shares during the period. Principal Financial Group Inc. increased its position in Nasdaq by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock valued at $172,098,000 after acquiring an additional 27,622 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Nasdaq in the 4th quarter valued at about $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in Nasdaq in the 1st quarter valued at about $222,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Trading Up 0.4%

Nasdaq stock traded up $0.36 during midday trading on Monday, reaching $89.93. The stock had a trading volume of 4,241,178 shares, compared to its average volume of 3,715,163. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $51.60 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.96 and a beta of 1.02. The firm's fifty day simple moving average is $93.77 and its two-hundred day simple moving average is $84.72.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. The company had revenue of $1.31 billion during 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 quarter in the prior year, the firm earned $0.69 EPS. Equities analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company 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 $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio (DPR) is 41.54%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler lifted their price objective on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Insiders Place Their Bets

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 in the company, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,409 shares of company stock worth $2,223,599 in the last ninety days. 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.