Nasdaq, Inc. $NDAQ Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,188,581 shares of the financial services provider’s stock after selling 75,063 shares during the period. Bank of New York Mellon Corp’s holdings in Nasdaq were worth $185,789,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NDAQ. MV Capital Management Inc. bought a new position in shares of Nasdaq in the fourth quarter worth $28,000. SOA Wealth Advisors LLC. bought a new stake in shares of Nasdaq during the fourth quarter valued at about $34,000. Nemes Rush Group LLC bought a new stake in shares of Nasdaq during the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Nasdaq during the fourth quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Nasdaq in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Down 2.8%

NASDAQ NDAQ opened at $91.64 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $87.32 and its 200 day simple moving average is $88.75. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The company has a market capitalization of $51.83 billion, a P/E ratio of 27.60, a PEG ratio of 1.46 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts expect that Nasdaq, Inc. will post 3.92 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio is 37.35%.

Insider Buying and Selling

In other news, insider Cohen Tal sold 15,518 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the sale, the insider directly owned 215,208 shares of the company’s stock, valued at $19,530,126. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the sale, the executive vice president directly owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 24,551 shares of company stock valued at $2,225,990. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NDAQ shares. TD Cowen decreased their target price on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Morgan Stanley dropped their price target on shares of Nasdaq from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Barclays decreased their price objective on shares of Nasdaq from $114.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $107.42.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.