DAVENPORT & Co LLC Sells 47,721 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

DAVENPORT & Co LLC cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 47.9% during the 4th quarter, Holdings Channel reports. The firm owned 51,955 shares of the financial services provider’s stock after selling 47,721 shares during the period. DAVENPORT & Co LLC’s holdings in Nasdaq were worth $4,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Citizens Financial Group Inc. RI increased its holdings in shares of Nasdaq by 3.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 137 shares during the period. First Pacific Financial increased its holdings in shares of Nasdaq by 1.0% during the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 142 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Nasdaq by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 148 shares during the period. Brooklyn Investment Group increased its holdings in shares of Nasdaq by 8.5% during the fourth quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 148 shares during the period. Finally, Crestwood Advisors Group LLC increased its holdings in shares of Nasdaq by 4.2% during the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 149 shares during the period. 72.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NDAQ shares. JPMorgan Chase & Co. lifted their price objective on shares of Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Nasdaq from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $98.00 in a research note on Wednesday, January 8th. TD Cowen decreased their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Argus lifted their price objective on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.88.

Insider Activity

In other news, insider Pc Nelson Griggs sold 5,742 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total transaction of $444,086.28. Following the completion of the transaction, the insider now directly owns 205,821 shares of the company’s stock, valued at $15,918,196.14. This represents a 2.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeremy Skule sold 12,075 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now directly owns 102,505 shares of the company’s stock, valued at $8,072,268.75. This represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,817 shares of company stock valued at $2,330,033 in the last three months. Company insiders own 0.70% of the company’s stock.

Nasdaq Trading Down 0.5 %

NASDAQ:NDAQ opened at $81.92 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. Nasdaq, Inc. has a 52 week low of $54.90 and a 52 week high of $83.77. The firm has a 50-day moving average price of $79.56 and a two-hundred day moving average price of $74.99.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. On average, equities analysts expect that Nasdaq, Inc. will post 3.17 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq’s dividend payout ratio is currently 50.00%.

About Nasdaq

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.