Shell Asset Management Co. increased its stake in shares of Nasdaq Inc. (NASDAQ:NDAQ) by 270.9% during the second quarter, Holdings Channel reports. The institutional investor owned 23,045 shares of the company’s stock after buying an additional 16,832 shares during the period. Shell Asset Management Co.’s holdings in Nasdaq were worth $1,490,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Nasdaq by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,012,957 shares of the company’s stock valued at $67,112,000 after buying an additional 24,896 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Nasdaq by 4.5% in the first quarter. UBS Asset Management Americas Inc. now owns 279,276 shares of the company’s stock valued at $18,538,000 after buying an additional 11,946 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Nasdaq during the first quarter valued at $581,000. CIBC World Markets Inc. boosted its stake in Nasdaq by 232.3% in the first quarter. CIBC World Markets Inc. now owns 23,639 shares of the company’s stock valued at $1,569,000 after buying an additional 16,525 shares during the period. Finally, Legal & General Group Plc boosted its stake in Nasdaq by 265.8% in the first quarter. Legal & General Group Plc now owns 502,157 shares of the company’s stock valued at $33,327,000 after buying an additional 364,898 shares during the period. Institutional investors own 74.20% of the company’s stock.
Nasdaq Inc. (NASDAQ:NDAQ) traded up 0.09% during mid-day trading on Friday, hitting $67.54. The company’s stock had a trading volume of 906,090 shares. The company has a market cap of $11.17 billion, a P/E ratio of 23.39 and a beta of 0.77. Nasdaq Inc. has a 12-month low of $52.75 and a 12-month high of $71.92. The firm’s 50-day moving average is $69.95 and its 200-day moving average is $66.61.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm earned $559 million during the quarter, compared to analyst estimates of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. Nasdaq’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. Analysts predict that Nasdaq Inc. will post $3.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.90%. Nasdaq’s payout ratio is 44.44%.
Several equities research analysts have weighed in on NDAQ shares. Barclays PLC cut Nasdaq to an “overweight” rating and increased their price objective for the stock from $79.00 to $80.00 in a report on Thursday, September 8th. Evercore ISI cut Nasdaq from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $69.00 to $68.00 in a report on Tuesday, July 5th. Deutsche Bank AG increased their price objective on Nasdaq from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $70.00 to $74.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. Finally, Jefferies Group raised their target price on Nasdaq from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Nasdaq presently has a consensus rating of “Hold” and a consensus target price of $69.67.
In related news, EVP Thomas A. Wittman sold 24,893 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total value of $1,669,822.44. Following the completion of the sale, the executive vice president now owns 64,956 shares in the company, valued at $4,357,248.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward S. Knight sold 19,555 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $70.40, for a total value of $1,376,672.00. Following the completion of the sale, the insider now owns 76,407 shares of the company’s stock, valued at approximately $5,379,052.80. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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