Swedbank AB Decreases Stock Holdings in Nasdaq, Inc. $NDAQ

Swedbank AB decreased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 6.7% during the first quarter, Holdings Channel reports. The firm owned 79,097 shares of the financial services provider’s stock after selling 5,686 shares during the quarter. Swedbank AB’s holdings in Nasdaq were worth $6,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new stake in Nasdaq in the 4th quarter worth approximately $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Nasdaq during the 4th quarter valued at $34,000. Nemes Rush Group LLC purchased a new position in shares of Nasdaq in the 4th quarter worth $35,000. Uniplan Investment Counsel Inc. purchased a new position in shares of Nasdaq in the 4th quarter worth $35,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of Nasdaq in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NDAQ. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Loop Capital set a $113.00 price target on Nasdaq in a research note on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday. Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research note on Thursday, June 11th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $106.92.

Nasdaq Stock Performance

Nasdaq stock traded up $0.56 during trading on Friday, reaching $88.08. The company had a trading volume of 2,620,120 shares, compared to its average volume of 4,808,497. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79. The firm’s 50-day simple moving average is $87.20 and its 200 day simple moving average is $89.01. The firm has a market capitalization of $49.81 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.Nasdaq’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. Sell-side analysts forecast that Nasdaq, Inc. will post 3.89 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 12th. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s payout ratio is presently 37.35%.

Insider Buying and Selling

In related news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the transaction, the executive vice president directly owned 141,035 shares in the company, valued at approximately $12,808,798.70. The trade was a 5.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cohen Tal sold 15,518 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider directly owned 215,208 shares of the company’s stock, valued at $19,530,126. This represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 24,551 shares of company stock valued at $2,225,990. Insiders own 0.60% of the company’s stock.

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.