Nasdaq (NASDAQ:NDAQ) Sets New 12-Month High After Dividend Announcement

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $84.24 and last traded at $83.58, with a volume of 256616 shares traded. The stock had previously closed at $84.00.

The newly announced dividend which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. Nasdaq's dividend payout ratio is currently 49.09%.

Analyst Ratings Changes

NDAQ has been the subject of a number of recent research reports. 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 increased their price objective on shares of Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Citigroup reduced their price objective on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. UBS Group reiterated a "cautious" rating on shares of Nasdaq in a research note on Monday, April 28th. Finally, Barclays cut their target price on shares of 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $86.50.

Nasdaq Price Performance

The company's fifty day moving average price is $76.66 and its 200 day moving average price is $78.35. The company has a market capitalization of $48.15 billion, a P/E ratio of 43.68, a PEG ratio of 2.12 and a beta of 1.00. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81.

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

Insider Activity at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 657 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president now owns 61,980 shares of the company's stock, valued at approximately $4,450,783.80. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider now owns 211,405 shares in the company, valued at approximately $17,552,957.15. This trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,616 shares of company stock valued at $1,813,598 over the last three months. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nasdaq

Institutional investors and hedge funds have recently made changes to their positions in the business. Grove Bank & Trust raised 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 acquiring an additional 216 shares during the last quarter. Highline Wealth Partners LLC grew its position in 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 purchasing an additional 317 shares in the last quarter. Rakuten Securities Inc. bought a new stake in Nasdaq in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in Nasdaq in the 1st quarter worth about $26,000. Finally, First Command Advisory Services Inc. bought a new stake in Nasdaq in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 72.47% of the company's stock.

About Nasdaq

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.