Nasdaq, Inc. $NDAQ Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 17,956 shares of the financial services provider’s stock after selling 641 shares during the period. Waterfront Wealth Inc.’s holdings in Nasdaq were worth $1,606,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NDAQ. Principal Financial Group Inc. raised its stake in shares of Nasdaq by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider’s stock valued at $172,098,000 after acquiring an additional 27,622 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Nasdaq during the 1st quarter worth approximately $222,000. 111 Capital grew its holdings in Nasdaq by 67.0% during the 2nd quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock worth $992,000 after acquiring an additional 4,450 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in Nasdaq by 7.9% during the 1st quarter. IFM Investors Pty Ltd now owns 96,686 shares of the financial services provider’s stock worth $7,059,000 after acquiring an additional 7,091 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Nasdaq by 192.2% during the 1st quarter. Teacher Retirement System of Texas now owns 177,192 shares of the financial services provider’s stock worth $13,442,000 after acquiring an additional 116,545 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Down 0.9%

NDAQ stock opened at $87.96 on Wednesday. The company has a fifty day moving average price of $90.99 and a 200 day moving average price of $87.44. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a market cap of $50.22 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. Nasdaq’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. Sell-side analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio is presently 38.57%.

Wall Street Analyst Weigh In

Several research firms have commented on NDAQ. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Oppenheimer reiterated an “outperform” rating and set a $101.00 price target (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Morgan Stanley set a $90.00 price target on shares of Nasdaq and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.56.

Insider Buying and Selling

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares in the company, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

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.