Truist Financial Corp Decreases Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

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

A number of other large investors also recently bought and sold shares of NDAQ. Grove Bank & Trust lifted its holdings in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after buying an additional 216 shares during the period. Rakuten Securities Inc. purchased a new stake in shares of Nasdaq in the 4th quarter worth $26,000. 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 worth $26,000 after buying an additional 317 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Nasdaq in the 1st quarter worth $26,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Nasdaq in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Citigroup decreased their price objective on Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Piper Sandler upped their price objective on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Morgan Stanley cut Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 price objective for the company. in a research note on Tuesday, April 8th. 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. Finally, The Goldman Sachs Group upped their price objective on Nasdaq from $85.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Nasdaq has an average rating of "Moderate Buy" and a consensus target price of $88.06.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $89.17, for a total transaction of $187,702.85. Following the transaction, the executive vice president owned 94,656 shares in the company, valued at approximately $8,440,475.52. This represents a 2.18% 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, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider owned 211,405 shares in the company, valued at $17,552,957.15. This represents a 3.65% 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 worth $1,874,659. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Performance

Shares of NDAQ traded up $0.48 during mid-day trading on Monday, reaching $90.55. The company had a trading volume of 2,426,328 shares, compared to its average volume of 3,062,073. Nasdaq, Inc. has a 52-week low of $60.27 and a 52-week high of $90.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $51.99 billion, a P/E ratio of 41.16, a PEG ratio of 2.32 and a beta of 1.01. The stock has a 50 day moving average of $83.49 and a two-hundred day moving average of $79.36.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. On average, analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.19%. This is an increase from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio is currently 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.