Fifth Third Wealth Advisors LLC Cuts Holdings in Nasdaq, Inc. $NDAQ

Fifth Third Wealth Advisors LLC trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,739 shares of the financial services provider’s stock after selling 151 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Nasdaq were worth $603,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC increased its position in 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 buying an additional 120 shares in the last quarter. Vestcor Inc increased its position in Nasdaq by 1.6% during the first quarter. Vestcor Inc now owns 8,825 shares of the financial services provider’s stock worth $669,000 after buying an additional 141 shares in the last quarter. Sax Wealth Advisors LLC increased its position in Nasdaq by 0.5% during the first quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider’s stock worth $2,282,000 after buying an additional 144 shares in the last quarter. Grove Bank & Trust increased its position in 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 buying an additional 216 shares in the last quarter. Finally, Compass Capital Corp MA ADV increased its position in Nasdaq by 1.4% during the first quarter. Compass Capital Corp MA ADV now owns 15,995 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 216 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Trading Down 2.7%

Shares of NDAQ opened at $88.90 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $51.01 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The stock’s fifty day simple moving average is $92.68 and its 200 day simple moving average is $86.01. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63.

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

Nasdaq Dividend Announcement

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

Insider Activity

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James Financial reissued an “outperform” rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Saturday, September 27th. Piper Sandler raised their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, Oppenheimer restated an “outperform” rating and set a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.25.

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.