Nasdaq, Inc. $NDAQ Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC reduced its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 59.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,310 shares of the financial services provider’s stock after selling 6,301 shares during the quarter. Morningstar Investment Management LLC’s holdings in Nasdaq were worth $366,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NDAQ. NBC Securities Inc. lifted its stake in Nasdaq by 7.8% in the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock valued at $149,000 after buying an additional 111 shares during the last quarter. ORG Wealth Partners LLC grew its position in shares of Nasdaq by 6.9% during the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 112 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Nasdaq by 2.6% in the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 117 shares during the period. Quantum Portfolio Management LLC lifted its position in Nasdaq by 1.8% in the 1st quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 123 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in Nasdaq by 1.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 128 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

More Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq delivered a solid Q2 beat on both earnings and revenue, with strong growth in index and FinTech driving better-than-expected results and record Market Services performance. Article Title
• Positive Sentiment: The company announced a quarterly dividend of $0.31 per share, which may appeal to income-focused investors and signals continued shareholder returns. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods lifted its price target to $102, indicating improved valuation expectations even though the rating remained market perform. Article Title
• Neutral Sentiment: Nasdaq’s July short-interest report showed 0 shares short and a 0.0-day days-to-cover figure, which appears more like a data anomaly than a meaningful trading signal. Article Title
• Neutral Sentiment: The company also ended its Miami case and sold its fund secondaries business, a portfolio move that may be viewed as strategic housekeeping rather than a major earnings driver. Article Title

Analysts Set New Price Targets

NDAQ has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a report on Thursday, June 11th. Barclays reaffirmed an “overweight” rating and set a $111.00 price target (up from $108.00) on shares of Nasdaq in a report on Friday. TD Cowen reaffirmed a “buy” rating and issued a $105.00 price objective (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Finally, Raymond James Financial restated an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of “Buy” and a consensus price target of $109.73.

Nasdaq Stock Performance

Shares of NDAQ opened at $92.09 on Monday. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.43 and a beta of 0.99. The company has a 50-day moving average of $87.43 and a two-hundred day moving average of $88.45.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Nasdaq, Inc. will post 4.03 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s payout ratio is presently 36.15%.

Insider Activity at Nasdaq

In related news, major shareholder Ab Investor acquired 56,782 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the acquisition, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares in the company, valued at approximately $12,808,798.70. This trade represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.