Hsbc Holdings PLC Cuts Holdings in Nasdaq, Inc. $NDAQ

Hsbc Holdings PLC trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,225,879 shares of the financial services provider’s stock after selling 46,079 shares during the quarter. Hsbc Holdings PLC’s holdings in Nasdaq were worth $119,255,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in Nasdaq by 52.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 833,095 shares of the financial services provider’s stock valued at $80,919,000 after purchasing an additional 285,606 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Nasdaq by 3.9% in the 4th quarter. World Investment Advisors now owns 30,638 shares of the financial services provider’s stock worth $2,976,000 after purchasing an additional 1,144 shares during the period. Larry Mathis Financial Planning LLC purchased a new position in shares of Nasdaq in the 4th quarter worth approximately $317,000. EJMK Ventures LLC bought a new position in shares of Nasdaq during the 4th quarter valued at approximately $783,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Nasdaq by 126,750.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,537 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 2,535 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

Shares of NDAQ opened at $84.66 on Friday. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The company has a 50-day moving average of $87.58 and a 200 day moving average of $89.28. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.69 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. On average, research analysts expect that Nasdaq, Inc. will post 3.87 EPS for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.31 dividend. The ex-dividend date was Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Nasdaq’s dividend payout ratio (DPR) is presently 37.35%.

Insider Transactions at Nasdaq

In other news, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the acquisition, the insider directly owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,551 shares of company stock worth $2,225,990 in the last ninety days. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NDAQ. TD Cowen lowered their price target on Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Barclays increased their target price on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Loop Capital set a $113.00 price objective on shares of Nasdaq in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.54.

Nasdaq Company Profile

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.