Global Financial Private Client LLC Increases Stock Holdings in Nasdaq, Inc. $NDAQ

Global Financial Private Client LLC grew its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,109 shares of the financial services provider’s stock after purchasing an additional 219 shares during the quarter. Global Financial Private Client LLC’s holdings in Nasdaq were worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Nuveen LLC purchased a new stake in Nasdaq during the first quarter valued at approximately $241,614,000. Invesco Ltd. raised its position in shares of Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after buying an additional 1,592,057 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Nasdaq by 7,367.6% in the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider’s stock valued at $85,671,000 after acquiring an additional 1,114,205 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Nasdaq by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock worth $1,550,115,000 after acquiring an additional 993,553 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Nasdaq by 104.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock worth $125,574,000 after acquiring an additional 845,725 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NDAQ. Barclays upped their price objective on Nasdaq from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Citigroup restated a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.06.

Insider Activity

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president owned 8,879 shares in the company, valued at $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares of the company’s stock, valued at $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,409 shares of company stock valued at $2,223,599. Company insiders own 0.70% of the company’s stock.

Nasdaq Trading Down 4.5%

Shares of Nasdaq stock opened at $88.87 on Friday. The firm’s 50 day simple moving average is $93.76 and its two-hundred day simple moving average is $84.44. The firm has a market capitalization of $50.99 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 2.04 and a beta of 1.02. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 12th. Nasdaq’s payout ratio is presently 41.54%.

Nasdaq Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.