Truist Financial Corp Lowers Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Truist Financial Corp decreased its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 22.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,397 shares of the financial services provider's stock after selling 124,041 shares during the period. Truist Financial Corp owned approximately 0.07% of Nasdaq worth $32,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDAQ. Grove Bank & Trust raised its stake 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 buying an additional 216 shares during the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after buying an additional 317 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Nasdaq in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Nasdaq in the 1st quarter valued at about $26,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Nasdaq in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NDAQ shares. Redburn Atlantic upgraded Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research note on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and issued a $96.00 price objective (up from $84.00) on shares of Nasdaq in a report on Wednesday. Barclays lifted their price objective on Nasdaq from $84.00 to $101.00 and gave the company an "overweight" rating in a research note on Thursday. Oppenheimer set a $96.00 price objective on Nasdaq and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Nasdaq currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.88.

Insiders Place Their Bets

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was 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 of the company's stock, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $89.17, for a total value of $187,702.85. Following the transaction, the executive vice president directly owned 94,656 shares in the company, valued at approximately $8,440,475.52. The trade was a 2.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,613 shares of company stock valued at $1,874,659. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Up 1.0%

NASDAQ:NDAQ traded up $0.90 during trading hours on Thursday, hitting $90.73. The company's stock had a trading volume of 3,096,862 shares, compared to its average volume of 3,073,688. The stock has a market capitalization of $52.09 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The stock has a fifty day moving average of $84.32 and a 200-day moving average of $79.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Nasdaq, Inc. has a 52-week low of $60.77 and a 52-week high of $90.83.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. Nasdaq's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.27 per share. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.19%. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.

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.