Cumberland Partners Ltd Sells 25,715 Shares of Nasdaq, Inc. $NDAQ

Cumberland Partners Ltd cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 20.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,288 shares of the financial services provider’s stock after selling 25,715 shares during the quarter. Cumberland Partners Ltd’s holdings in Nasdaq were worth $9,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. NBC Securities Inc. lifted its position in shares of Nasdaq by 7.8% during the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 111 shares during the last quarter. ORG Wealth Partners LLC lifted its position in shares of Nasdaq by 6.9% during the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 112 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Nasdaq by 2.6% during the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 117 shares during the last quarter. Orgel Wealth Management LLC lifted its position in shares of Nasdaq by 4.7% during the fourth quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 118 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in shares of Nasdaq by 1.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock worth $831,000 after purchasing an additional 128 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Insider Transactions at Nasdaq

In other Nasdaq news, CEO Adena T. Friedman sold 113,611 shares of Nasdaq stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total value of $9,706,923.84. Following the transaction, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the transaction, the insider owned 215,208 shares in the company, valued at $19,530,126. This trade represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 231,002 shares of company stock worth $20,295,941. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $91.01 on Friday. The firm has a market cap of $51.47 billion, a P/E ratio of 27.41, a P/E/G ratio of 1.84 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79. The stock’s fifty day moving average price is $87.62 and its 200-day moving average price is $89.86.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. On average, equities research analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, June 12th. Nasdaq’s payout ratio is 32.53%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Loop Capital set a $113.00 target price on Nasdaq in a research report on Friday, April 24th. Raymond James Financial reiterated an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a research report on Wednesday, February 25th. TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and a consensus price target of $107.15.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.