First Trust Advisors LP reduced its holdings in Nasdaq Inc (NASDAQ:NDAQ) by 20.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 170,476 shares of the financial services provider’s stock after selling 44,025 shares during the period. First Trust Advisors LP owned about 0.10% of Nasdaq worth $14,627,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of NDAQ. First Hawaiian Bank acquired a new stake in Nasdaq in the third quarter valued at approximately $101,000. Legacy Advisors LLC acquired a new stake in shares of Nasdaq in the third quarter worth approximately $116,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Nasdaq in the second quarter worth approximately $122,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Nasdaq in the second quarter worth approximately $125,000. Finally, GWM Advisors LLC acquired a new stake in shares of Nasdaq in the second quarter worth approximately $207,000. 75.74% of the stock is currently owned by institutional investors.
In related news, insider Ann M. Dennison sold 1,553 shares of Nasdaq stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $83.67, for a total transaction of $129,939.51. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.
NDAQ has been the topic of a number of research analyst reports. Citigroup lifted their price target on Nasdaq from $89.00 to $95.00 and gave the stock a “$95.59” rating in a research note on Wednesday, July 18th. UBS Group lifted their price target on Nasdaq from $101.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Rosenblatt Securities initiated coverage on Nasdaq in a research note on Wednesday, September 5th. They issued a “neutral” rating and a $99.00 price target on the stock. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Finally, BidaskClub lowered Nasdaq from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $95.62.
Shares of Nasdaq stock opened at $90.40 on Friday. Nasdaq Inc has a one year low of $72.95 and a one year high of $96.84. The company has a market cap of $14.93 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.99 and a beta of 0.53. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. Nasdaq had a return on equity of 13.69% and a net margin of 17.95%. The firm had revenue of $600.00 million for the quarter, compared to the consensus estimate of $605.67 million. During the same quarter last year, the business posted $1.01 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Nasdaq Inc will post 4.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.76 dividend on an annualized basis and a yield of 1.95%. Nasdaq’s payout ratio is 43.35%.
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.
See Also: Diversification
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