Whalen Wealth Management Inc. Invests $586,000 in Nasdaq, Inc. $NDAQ

Whalen Wealth Management Inc. acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,031 shares of the financial services provider’s stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its position in Nasdaq by 2.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock valued at $441,000 after buying an additional 110 shares in the last quarter. ORG Wealth Partners LLC raised its position in shares of Nasdaq by 6.9% during the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 112 shares during the last quarter. Orgel Wealth Management LLC raised its holdings in Nasdaq by 4.7% during the 4th quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 118 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in Nasdaq by 1.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock valued at $831,000 after buying an additional 128 shares during the period. Finally, PDS Planning Inc lifted its stake in shares of Nasdaq by 4.9% in the 3rd quarter. PDS Planning Inc now owns 2,830 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analysts Set New Price Targets

NDAQ has been the subject of several research analyst reports. TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $106.00 in a research note on Thursday, February 26th. Morgan Stanley set a $116.00 price objective on Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. Argus upgraded Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research report on Friday, January 30th. Finally, Barclays reissued an “overweight” rating and issued a $115.00 price target (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $103.71.

Insiders Place Their Bets

In related news, CEO Adena T. Friedman sold 113,611 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total value of $9,706,923.84. Following the completion of the transaction, the chief executive officer directly owned 1,965,751 shares in the company, valued at approximately $167,953,765.44. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Zecca sold 4,500 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the transaction, the executive vice president directly owned 125,674 shares in the company, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 510,951 shares of company stock valued at $47,592,996 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $86.65 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average of $86.35 and a 200-day moving average of $89.77. The firm has a market capitalization of $49.26 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.59 and a beta of 1.02. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm posted $0.76 earnings per share. Nasdaq’s quarterly revenue was up 13.4% on a year-over-year basis. Sell-side analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a dividend of $0.27 per share. The ex-dividend date was Monday, March 16th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 34.95%.

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.