Apollon Wealth Management LLC Buys 2,157 Shares of Nasdaq, Inc. $NDAQ

Apollon Wealth Management LLC raised its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 20.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,931 shares of the financial services provider’s stock after acquiring an additional 2,157 shares during the quarter. Apollon Wealth Management LLC’s holdings in Nasdaq were worth $1,156,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Nasdaq by 7.7% in the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider’s stock valued at $3,274,000 after buying an additional 3,096 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Nasdaq by 1.2% in the first quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider’s stock valued at $172,098,000 after buying an additional 27,622 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Nasdaq in the first quarter valued at about $222,000. Manning & Napier Advisors LLC raised its holdings in shares of Nasdaq by 3.9% in the first quarter. Manning & Napier Advisors LLC now owns 861,437 shares of the financial services provider’s stock valued at $65,349,000 after buying an additional 32,004 shares during the last quarter. Finally, 111 Capital raised its holdings in shares of Nasdaq by 67.0% in the second quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock valued at $992,000 after buying an additional 4,450 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Nasdaq Price Performance

Nasdaq stock opened at $89.54 on Wednesday. The firm has a market capitalization of $51.38 billion, a P/E ratio of 34.44, a PEG ratio of 2.02 and a beta of 0.98. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The business has a 50-day moving average of $92.39 and a 200-day moving average of $86.14. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq’s payout ratio is currently 41.54%.

Insider Activity at Nasdaq

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was 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 directly owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NDAQ shares. Keefe, Bruyette & Woods lifted their price target on Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, July 25th. UBS Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Oppenheimer reiterated an “outperform” rating and issued a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Piper Sandler lifted their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Nasdaq has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Nasdaq Company 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.