Nasdaq, Inc. (NASDAQ:NDAQ) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 44.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,148 shares of the financial services provider's stock after selling 42,903 shares during the period. New York Life Investment Management LLC's holdings in Nasdaq were worth $3,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new position in shares of Nasdaq in the 3rd quarter worth about $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in Nasdaq in the 4th quarter worth about $29,000. Carmel Capital Partners LLC bought a new stake in Nasdaq in the 3rd quarter worth about $32,000. Allworth Financial LP boosted its holdings in shares of Nasdaq by 74.9% during the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 349 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Nasdaq by 158.5% during the fourth quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 553 shares during the last quarter. Institutional investors own 72.47% of the company's stock.

Insider Buying and Selling

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Bryan Everard Smith sold 3,036 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total value of $181,826.04. Following the sale, the executive vice president now owns 58,636 shares in the company, valued at $3,511,710.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the transaction, the insider now directly owns 58,341,545 shares of the company's stock, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Insiders have sold a total of 31,010,436 shares of company stock worth $1,798,647,360 in the last ninety days. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NDAQ. Rosenblatt Securities cut their target price on shares of Nasdaq from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Friday, April 26th. Morgan Stanley upgraded shares of Nasdaq from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $59.00 to $80.00 in a research report on Tuesday, April 9th. UBS Group upped their price target on shares of Nasdaq from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, January 24th. Edward Jones started coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They issued a "buy" rating for the company. Finally, Citigroup boosted their price objective on Nasdaq from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.92.

Nasdaq Stock Up 1.3 %

Nasdaq stock traded up $0.80 during trading hours on Friday, reaching $60.87. The stock had a trading volume of 2,889,284 shares, compared to its average volume of 3,357,425. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 3.36 and a beta of 0.94. The business's 50 day moving average price is $60.34 and its 200-day moving average price is $56.87. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $64.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.69 EPS. The company's revenue was up 22.2% compared to the same quarter last year. Sell-side analysts anticipate that Nasdaq, Inc. will post 2.69 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.24 dividend. This is a boost from Nasdaq's previous quarterly dividend of $0.22. The ex-dividend date is Friday, June 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. Nasdaq's dividend payout ratio (DPR) is presently 46.32%.

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.