Advisors Asset Management Inc. lifted its holdings in shares of Nasdaq Inc (NASDAQ:NDAQ) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,186 shares of the financial services provider’s stock after purchasing an additional 1,031 shares during the quarter. Advisors Asset Management Inc.’s holdings in Nasdaq were worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NDAQ. Cornerstone Wealth Management LLC purchased a new position in shares of Nasdaq in the 2nd quarter valued at about $122,000. Piedmont Investment Advisors LLC purchased a new position in shares of Nasdaq in the 2nd quarter valued at about $125,000. TNB Financial purchased a new position in shares of Nasdaq in the 2nd quarter valued at about $201,000. GWM Advisors LLC purchased a new position in shares of Nasdaq in the 2nd quarter valued at about $207,000. Finally, NuWave Investment Management LLC purchased a new position in shares of Nasdaq in the 2nd quarter valued at about $216,000. Institutional investors and hedge funds own 75.89% of the company’s stock.
NDAQ has been the subject of several recent research reports. ValuEngine cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. BidaskClub cut Nasdaq from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Deutsche Bank decreased their price objective on Nasdaq from $103.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. UBS Group lifted their price objective on Nasdaq from $101.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $95.62.
In other Nasdaq news, insider Ann M. Dennison sold 1,553 shares of Nasdaq stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $83.67, for a total transaction of $129,939.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.40% of the company’s stock.
Shares of NASDAQ NDAQ traded down $0.17 during midday trading on Thursday, hitting $87.26. 1,222,686 shares of the company’s stock were exchanged, compared to its average volume of 1,132,536. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.94. Nasdaq Inc has a twelve month low of $72.98 and a twelve month high of $96.84. The firm has a market capitalization of $14.33 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.14 by $0.01. The company had revenue of $600.00 million for the quarter, compared to analyst estimates of $605.67 million. Nasdaq had a return on equity of 13.69% and a net margin of 17.95%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, sell-side analysts forecast that Nasdaq Inc will post 4.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, December 13th. Nasdaq’s dividend payout ratio (DPR) is 43.35%.
Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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