Bank of America Corp DE Has $375.01 Million Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of America Corp DE raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,850,742 shares of the financial services provider's stock after acquiring an additional 399,216 shares during the quarter. Bank of America Corp DE owned about 0.84% of Nasdaq worth $375,011,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP increased its position in Nasdaq by 12.3% during the fourth quarter. Allworth Financial LP now owns 1,292 shares of the financial services provider's stock worth $104,000 after acquiring an additional 141 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Nasdaq by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider's stock worth $759,000 after purchasing an additional 148 shares during the period. Brooklyn Investment Group raised its position in shares of Nasdaq by 8.5% during the fourth quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider's stock valued at $147,000 after buying an additional 148 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Nasdaq by 4.1% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider's stock valued at $295,000 after buying an additional 152 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in Nasdaq by 4.2% during the fourth quarter. Gamco Investors INC. ET AL now owns 4,103 shares of the financial services provider's stock worth $317,000 after buying an additional 164 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NDAQ. Redburn Atlantic upgraded shares of 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. Piper Sandler lifted their price objective on Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Citigroup dropped their target price on Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Oppenheimer decreased their price target on Nasdaq from $89.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Barclays dropped their price objective on Nasdaq from $86.00 to $84.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Nasdaq currently has a consensus rating of "Moderate Buy" and an average price target of $86.50.

Nasdaq Price Performance

Shares of NASDAQ NDAQ traded up $0.20 during trading hours on Friday, hitting $79.20. 3,913,939 shares of the stock were exchanged, compared to its average volume of 2,823,846. Nasdaq, Inc. has a 1-year low of $58.28 and a 1-year high of $84.15. The company has a market cap of $45.47 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The company's fifty day simple moving average is $74.36 and its two-hundred day simple moving average is $77.70.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, sell-side analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio (DPR) is currently 49.09%.

Insiders Place Their Bets

In other news, EVP Sarah Youngwood sold 14,959 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $73.68, for a total value of $1,102,179.12. Following the sale, the executive vice president now directly owns 59,694 shares of the company's stock, valued at approximately $4,398,253.92. This represents a 20.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction on Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the transaction, the executive vice president now directly owns 61,980 shares of the company's stock, valued at $4,450,783.80. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Nasdaq Company 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.