Tranquility Partners LLC Takes $669,000 Position in Nasdaq, Inc. $NDAQ

Key Points

• Tranquility Partners LLC acquired a new position in Nasdaq, Inc. worth approximately $669,000, purchasing 7,482 shares during the second quarter.
• Multiple large investors increased their positions in Nasdaq, with Concurrent Investment Advisors lifting its holdings by 59.1% in the same period, now owning over $2.5 million worth of shares.
• Nasdaq recently declared a quarterly dividend of $0.27 per share, representing an annualized dividend yield of 1.2%, and has a current payout ratio of 41.54%.

Tranquility Partners LLC bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,482 shares of the financial services provider's stock, valued at approximately $669,000.

A number of other large investors also recently modified their holdings of the stock. Concurrent Investment Advisors LLC lifted its holdings in shares of Nasdaq by 59.1% in the second quarter. Concurrent Investment Advisors LLC now owns 29,002 shares of the financial services provider's stock valued at $2,593,000 after purchasing an additional 10,771 shares in the last quarter. Cerro Pacific Wealth Advisors LLC bought a new position in shares of Nasdaq in the second quarter valued at approximately $208,000. Apollon Wealth Management LLC grew its position in Nasdaq by 20.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 12,931 shares of the financial services provider's stock worth $1,156,000 after purchasing an additional 2,157 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Nasdaq in the 2nd quarter worth about $136,000. Finally, Aberdeen Group plc grew its position in Nasdaq by 3.7% in the 2nd quarter. Aberdeen Group plc now owns 309,845 shares of the financial services provider's stock worth $27,573,000 after purchasing an additional 11,031 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NDAQ shares. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Morgan Stanley set a $90.00 price objective on shares of Nasdaq and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.25.

Nasdaq Stock Down 2.7%

NDAQ opened at $88.90 on Friday. 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 stock has a market cap of $51.01 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.02 and a beta of 0.98. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company's 50-day moving average price is $92.68 and its two-hundred day moving average price is $85.94.

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 for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, equities analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq's dividend payout ratio is presently 41.54%.

Insider Buying and Selling

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.

Want to see what other hedge funds are holding NDAQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nasdaq, Inc. (NASDAQ:NDAQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.