Chevy Chase Trust Holdings LLC Acquires 73,412 Shares of Nasdaq, Inc. $NDAQ

Chevy Chase Trust Holdings LLC increased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 7.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,100,667 shares of the financial services provider’s stock after buying an additional 73,412 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Nasdaq were worth $97,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NDAQ. Front Row Advisors LLC acquired a new stake in Nasdaq in the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Nasdaq in the second quarter worth about $27,000. Tripletail Wealth Management LLC acquired a new position in shares of Nasdaq during the third quarter worth approximately $27,000. Westside Investment Management Inc. lifted its position in shares of Nasdaq by 100.0% during the third quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. Finally, West Branch Capital LLC bought a new stake in shares of Nasdaq during the third quarter valued at approximately $29,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

Shares of NDAQ opened at $85.53 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. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79. The stock has a market cap of $48.62 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03. The stock’s 50-day moving average price is $90.63 and its two-hundred day moving average price is $90.71.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. On average, equities analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, March 16th. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. Nasdaq’s payout ratio is currently 34.95%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and issued a $109.00 price target on shares of Nasdaq in a report on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a research report on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Friday, January 30th. TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Finally, Morgan Stanley set a $116.00 price target on Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $103.80.

Insider Activity at Nasdaq

In other Nasdaq news, CEO Adena T. Friedman sold 92,840 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $90.08, for a total value of $8,363,027.20. Following the completion of the sale, the chief executive officer owned 2,079,323 shares of the company’s stock, valued at approximately $187,305,415.84. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Zecca sold 4,500 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president owned 125,674 shares in the company, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 697,340 shares of company stock valued at $66,803,072 in the last ninety days. Insiders own 0.70% of the company’s stock.

Nasdaq 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.