Nasdaq, Inc. $NDAQ Shares Sold by Spire Wealth Management

Spire Wealth Management cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 69.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,382 shares of the financial services provider’s stock after selling 7,652 shares during the quarter. Spire Wealth Management’s holdings in Nasdaq were worth $302,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NDAQ. Nuveen LLC acquired a new position in Nasdaq in the first quarter valued at $241,614,000. Invesco Ltd. lifted its stake in shares of Nasdaq by 40.8% in the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after acquiring an additional 1,592,057 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Nasdaq by 5.1% in the 1st 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 during the period. Envestnet Asset Management Inc. lifted its stake in shares of Nasdaq by 54.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock worth $240,468,000 after acquiring an additional 952,354 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Nasdaq by 104.5% in the 1st 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 during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on NDAQ shares. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a research note on Friday, July 25th. Citigroup restated a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Thursday, October 9th. TD Cowen raised their target price on shares of Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.56.

Nasdaq Stock Up 1.1%

NDAQ stock opened at $86.39 on Tuesday. The company has a market cap of $49.33 billion, a P/E ratio of 30.85, a P/E/G ratio of 1.79 and a beta of 0.98. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The company’s 50-day moving average price is $90.30 and its 200 day moving average price is $87.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $1.32 billion for 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%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s dividend payout ratio is presently 38.57%.

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.