BlackRock Inc. Boosts Stake in Nasdaq Inc (NASDAQ:NDAQ)

BlackRock Inc. increased its stake in shares of Nasdaq Inc (NASDAQ:NDAQ) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,679,185 shares of the financial services provider’s stock after purchasing an additional 62,962 shares during the period. BlackRock Inc. owned approximately 4.66% of Nasdaq worth $738,508,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Natixis boosted its position in shares of Nasdaq by 612.9% during the 2nd quarter. Natixis now owns 23,990 shares of the financial services provider’s stock worth $2,307,000 after purchasing an additional 20,625 shares during the period. NewSquare Capital LLC purchased a new position in Nasdaq in the 2nd quarter valued at approximately $437,000. Verition Fund Management LLC purchased a new position in Nasdaq in the 2nd quarter valued at approximately $341,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new position in Nasdaq in the 2nd quarter valued at approximately $280,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Nasdaq by 24.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,363 shares of the financial services provider’s stock valued at $326,000 after buying an additional 654 shares during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on NDAQ shares. Citigroup cut shares of Nasdaq from a “neutral” rating to a “sell” rating and raised their price target for the company from $93.00 to $95.00 in a research report on Monday, July 22nd. Deutsche Bank raised their price target on shares of Nasdaq from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group cut shares of Nasdaq from a “buy” rating to a “neutral” rating and decreased their price target for the company from $113.00 to $107.00 in a research report on Friday, October 25th. Oppenheimer started coverage on shares of Nasdaq in a research report on Monday, September 16th. They issued an “outperform” rating and a $111.00 price target for the company. Finally, ValuEngine cut shares of Nasdaq from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Nasdaq currently has an average rating of “Hold” and an average target price of $102.70.

In other news, EVP Pc Nelson Griggs sold 1,444 shares of Nasdaq stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $101.09, for a total transaction of $145,973.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lars Ottersgard sold 4,861 shares of Nasdaq stock in a transaction on Monday, August 19th. The stock was sold at an average price of $99.14, for a total transaction of $481,919.54. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Nasdaq stock opened at $100.66 on Friday. The stock has a market cap of $16.21 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a fifty day simple moving average of $99.24 and a 200-day simple moving average of $97.22. Nasdaq Inc has a 12-month low of $75.49 and a 12-month high of $105.26. The company has a current ratio of 0.95, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.06. The business had revenue of $632.00 million during the quarter, compared to analysts’ expectations of $627.44 million. Nasdaq had a net margin of 12.16% and a return on equity of 15.22%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. As a group, sell-side analysts forecast that Nasdaq Inc will post 4.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.88 annualized dividend and a dividend yield of 1.87%. Nasdaq’s dividend payout ratio (DPR) is currently 38.84%.

Nasdaq Company Profile

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

Further Reading: Monthly Dividend Stocks

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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