TKG Advisors LLC Purchases 16,469 Shares of Nasdaq, Inc. $NDAQ

Key Points

• TKG Advisors LLC boosted its stake in Nasdaq by 109% in the first quarter, buying an additional 16,469 shares and bringing its total holding to 31,574 shares worth about $2.68 million.
• Nasdaq reported better-than-expected quarterly results, with EPS of $0.96 versus $0.93 expected and revenue of $2.14 billion versus $1.42 billion estimated, while revenue rose 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 per share from $0.27, and analysts currently view the stock as a Moderate Buy with an average target price of $107.54.

TKG Advisors LLC raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 109.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,574 shares of the financial services provider's stock after purchasing an additional 16,469 shares during the quarter. TKG Advisors LLC's holdings in Nasdaq were worth $2,680,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Nasdaq in the fourth quarter worth approximately $530,100,000. Morgan Stanley lifted its stake in shares of Nasdaq by 62.6% during the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock worth $900,061,000 after acquiring an additional 3,567,843 shares during the last quarter. Nuveen LLC boosted its holdings in Nasdaq by 82.0% during the 4th quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider's stock valued at $589,897,000 after acquiring an additional 2,736,322 shares during the period. Harris Associates L P boosted its holdings in Nasdaq by 46.0% during the 4th quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider's stock valued at $837,425,000 after acquiring an additional 2,716,280 shares during the period. Finally, State Street Corp grew its position in Nasdaq by 7.7% in the 3rd quarter. State Street Corp now owns 19,619,192 shares of the financial services provider's stock valued at $1,735,318,000 after acquiring an additional 1,404,348 shares during the last quarter. Institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Barclays upped their price target on shares of Nasdaq from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Loop Capital set a $113.00 price target on shares of Nasdaq in a research note on Friday, April 24th. TD Cowen decreased their price objective on shares of Nasdaq from $104.00 to $98.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Finally, Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Nasdaq has an average rating of "Moderate Buy" and an average target price of $107.54.

Insider Buying and Selling at Nasdaq

In other news, SVP Michelle Lynn Daly sold 1,323 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the sale, the senior vice president owned 10,089 shares of the company's stock, valued at approximately $896,104.98. This represents a 11.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cohen Tal sold 15,518 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the transaction, the insider owned 215,208 shares in the company, valued at approximately $19,530,126. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 24,551 shares of company stock worth $2,225,990. Company insiders own 0.60% of the company's stock.

Nasdaq Price Performance

Shares of NDAQ stock opened at $82.73 on Thursday. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79. The stock has a market capitalization of $46.79 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.57 and a beta of 0.99. The stock has a fifty day simple moving average of $87.67 and a two-hundred day simple moving average of $89.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. On average, analysts predict that Nasdaq, Inc. will post 3.87 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio (DPR) is currently 37.35%.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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