Dearborn Partners LLC Lowers Stock Holdings in Nasdaq, Inc. $NDAQ

Dearborn Partners LLC decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 311,111 shares of the financial services provider’s stock after selling 12,632 shares during the period. Nasdaq makes up approximately 1.5% of Dearborn Partners LLC’s holdings, making the stock its 21st largest holding. Dearborn Partners LLC’s holdings in Nasdaq were worth $30,218,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NDAQ. Norges Bank purchased a new stake in Nasdaq during the fourth quarter valued at about $530,100,000. Vanguard Group Inc. raised its position in Nasdaq by 6.9% during the third quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider’s stock valued at $5,275,902,000 after purchasing an additional 3,848,406 shares in the last quarter. State Street Corp raised its position in Nasdaq by 7.7% during the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock valued at $1,735,318,000 after purchasing an additional 1,404,348 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Nasdaq by 4.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock valued at $2,683,485,000 after purchasing an additional 1,258,964 shares in the last quarter. Finally, Select Equity Group L.P. purchased a new stake in Nasdaq during the second quarter valued at about $110,259,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 1.3%

Shares of NASDAQ:NDAQ opened at $87.28 on Friday. The stock’s 50-day moving average price is $88.52 and its 200-day moving average price is $90.06. Nasdaq, Inc. has a 12-month low of $77.09 and a 12-month high of $101.79. The stock has a market capitalization of $49.36 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 12th. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Nasdaq’s payout ratio is 32.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Keefe, Bruyette & Woods raised their price target on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and raised their price target for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 price objective on shares of Nasdaq in a research note on Wednesday, February 25th. Finally, Argus raised Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.15.

Insiders Place Their Bets

In related news, EVP Bradley J. Peterson sold 7,710 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the sale, the executive vice president directly owned 141,035 shares of the company’s stock, valued at $12,808,798.70. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cohen Tal sold 15,518 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the sale, the insider directly owned 215,208 shares in the company, valued at $19,530,126. The trade was a 6.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 138,162 shares of company stock valued at $11,932,913 over the last three months. Company insiders own 0.60% of the company’s stock.

About Nasdaq

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.