State of Tennessee Treasury Department trimmed its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,173 shares of the financial services provider’s stock after selling 245 shares during the period. State of Tennessee Treasury Department’s holdings in Nasdaq were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC purchased a new position in Nasdaq in the 2nd quarter valued at approximately $214,000. Nikko Asset Management Americas Inc. grew its stake in Nasdaq by 1,325.8% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 126,900 shares of the financial services provider’s stock valued at $9,072,000 after buying an additional 118,000 shares in the last quarter. Commerce Bank grew its stake in Nasdaq by 1.9% in the 2nd quarter. Commerce Bank now owns 283,835 shares of the financial services provider’s stock valued at $20,292,000 after buying an additional 5,401 shares in the last quarter. Summit Securities Group LLC purchased a new position in Nasdaq in the 2nd quarter valued at approximately $645,000. Finally, GAM Holding AG grew its stake in Nasdaq by 0.7% in the 2nd quarter. GAM Holding AG now owns 28,766 shares of the financial services provider’s stock valued at $2,056,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 74.37% of the company’s stock.
Nasdaq, Inc. (NDAQ) opened at 74.75 on Monday. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 56.80 and a beta of 0.77. Nasdaq, Inc. has a 52-week low of $63.30 and a 52-week high of $77.75. The stock’s 50 day moving average is $75.24 and its 200-day moving average is $71.18.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. The firm had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $596.55 million. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts anticipate that Nasdaq, Inc. will post $4.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.03%. Nasdaq’s dividend payout ratio (DPR) is presently 118.75%.
In other news, insider Ann M. Dennison sold 1,170 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total value of $89,294.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lars Wedenborn sold 3,045 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.13, for a total transaction of $231,815.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,844 shares of company stock valued at $2,788,100. Corporate insiders own 1.60% of the company’s stock.
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A number of research analysts recently weighed in on NDAQ shares. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Barclays PLC started coverage on shares of Nasdaq in a research note on Friday, September 8th. They issued an “overweight” rating and a $85.00 price objective for the company. Royal Bank Of Canada set a $74.00 price objective on shares of Nasdaq and gave the company a “hold” rating in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 price objective (up from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Nasdaq has an average rating of “Hold” and a consensus target price of $76.10.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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