Cerro Pacific Wealth Advisors LLC Invests $208,000 in Nasdaq, Inc. $NDAQ

Cerro Pacific Wealth Advisors LLC bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,326 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its position in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 216 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 120 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Nasdaq during the first quarter worth approximately $26,000. Highline Wealth Partners LLC raised its position in shares of Nasdaq by 1,509.5% during the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 317 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in shares of Nasdaq during the first quarter worth approximately $30,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Trading Down 2.7%

Shares of Nasdaq stock opened at $88.90 on Monday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The firm has a market cap of $51.01 billion, a PE ratio of 34.19, a P/E/G ratio of 2.02 and a beta of 0.98. The stock has a fifty day moving average price of $92.68 and a 200-day moving average price of $86.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

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

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is currently 41.54%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NDAQ shares. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Barclays reissued an “overweight” rating and issued a $108.00 price target (down from $109.00) on shares of Nasdaq in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target on Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 price target on shares of Nasdaq in a research report on Thursday. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.25.

Insider Buying and Selling at Nasdaq

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares of the company’s stock, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

About Nasdaq

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.