Boyar Asset Management Inc. Sells 450 Shares of Nasdaq, Inc. $NDAQ

Boyar Asset Management Inc. lessened its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,896 shares of the financial services provider’s stock after selling 450 shares during the quarter. Boyar Asset Management Inc.’s holdings in Nasdaq were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NDAQ. Bruce G. Allen Investments LLC increased its position in shares of Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 216 shares in the last quarter. Highline Wealth Partners LLC grew its stake in Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock worth $26,000 after buying an additional 317 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Nasdaq during the 1st quarter worth $26,000. Finally, First Command Advisory Services Inc. acquired a new position in Nasdaq during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NDAQ. Citigroup reissued a “neutral” rating on shares of Nasdaq in a report on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Morgan Stanley set a $90.00 price target on shares of Nasdaq and gave the company an “equal weight” rating in a research note on Wednesday. Piper Sandler upped their target price on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, Barclays raised their target price on Nasdaq from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.31.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the sale, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. This trade represents a 2.22% 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, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares of the company’s stock, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Nasdaq Stock Up 0.3%

Shares of NDAQ opened at $87.61 on Friday. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $50.27 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.99 and a beta of 0.98. The stock’s 50-day moving average price is $93.31 and its 200-day moving average price is $85.45.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business earned $0.69 earnings per share. Nasdaq’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio is 41.54%.

Nasdaq Profile

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.