Nasdaq, Inc. $NDAQ Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 730.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 436,020 shares of the financial services provider’s stock after buying an additional 383,543 shares during the quarter. NewEdge Advisors LLC’s holdings in Nasdaq were worth $34,367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NDAQ. California State Teachers Retirement System grew its position in shares of Nasdaq by 7,824.5% during the second quarter. California State Teachers Retirement System now owns 51,567,827 shares of the financial services provider’s stock worth $4,064,576,000 after acquiring an additional 50,917,084 shares during the last quarter. BlackRock Inc. bought a new stake in Nasdaq in the 2nd quarter valued at about $2,931,637,000. Bank of America Corp DE bought a new stake in Nasdaq in the 2nd quarter valued at about $603,631,000. Norges Bank acquired a new position in Nasdaq during the 4th quarter valued at about $530,100,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Nasdaq during the 2nd quarter valued at about $377,818,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James Financial restated an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a report on Thursday, June 11th. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Nasdaq in a report on Friday, July 24th. Finally, TD Cowen restated a “buy” rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $110.30.

Insider Activity

In related news, insider Nelson Griggs sold 11,010 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. The trade was a 5.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bradley Peterson sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president directly owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,797 shares of company stock valued at $3,926,319. Insiders own 0.60% of the company’s stock.

Nasdaq Trading Down 0.9%

Shares of Nasdaq stock opened at $94.22 on Thursday. The business has a fifty day simple moving average of $93.85 and a 200-day simple moving average of $89.33. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The firm has a market cap of $52.67 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $0.85 earnings per share. Nasdaq’s revenue was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is 36.15%.

Nasdaq Company Profile

Nasdaq, Inc (NASDAQ:NDAQ) operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.

Nasdaq’s businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.