Dividend Assets Capital LLC Boosts Position in Nasdaq, Inc. $NDAQ

Dividend Assets Capital LLC raised its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 166.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 34,518 shares of the financial services provider’s stock after buying an additional 21,584 shares during the quarter. Dividend Assets Capital LLC’s holdings in Nasdaq were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. MV Capital Management Inc. purchased a new position in shares of Nasdaq during the fourth quarter worth $28,000. SOA Wealth Advisors LLC. acquired a new position in Nasdaq during the fourth quarter valued at $34,000. Nemes Rush Group LLC purchased a new stake in Nasdaq in the fourth quarter valued at $35,000. Uniplan Investment Counsel Inc. purchased a new stake in Nasdaq in the fourth quarter valued at $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Nasdaq during the 4th quarter worth about $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the sale, the executive vice president directly owned 141,035 shares in the company, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michelle Lynn Daly sold 1,323 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the sale, the senior vice president owned 10,089 shares of the company’s stock, valued at $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,551 shares of company stock worth $2,225,990. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen reduced their price objective on Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research report on Thursday, June 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Finally, Loop Capital set a $113.00 price target on Nasdaq in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and a consensus price target of $107.54.

Nasdaq Price Performance

NDAQ opened at $84.66 on Monday. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day moving average of $87.58 and a two-hundred day moving average of $89.26. The stock has a market capitalization of $47.88 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.69 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, research analysts expect that Nasdaq, Inc. will post 3.87 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s payout ratio is currently 37.35%.

Nasdaq Company 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.