Princeton Global Asset Management LLC Purchases New Stake in Nasdaq, Inc. $NDAQ

Princeton Global Asset Management LLC purchased a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 1st quarter, Holdings Channel reports. The fund purchased 41,506 shares of the financial services provider’s stock, valued at approximately $3,523,000.

Other large investors also recently modified their holdings of the company. MV Capital Management Inc. acquired a new position in Nasdaq in the 4th quarter valued at about $28,000. SOA Wealth Advisors LLC. acquired a new stake in Nasdaq during the fourth quarter worth approximately $34,000. Nemes Rush Group LLC acquired a new stake in Nasdaq during the fourth quarter worth approximately $35,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Nasdaq during the fourth quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq in the fourth quarter valued at approximately $37,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $78.56 on Monday. The company has a market cap of $44.43 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.57 and a beta of 0.97. Nasdaq, Inc. has a fifty-two week low of $77.09 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average price of $88.21 and a 200-day moving average price of $89.65.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.Nasdaq’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. As a group, equities analysts anticipate that Nasdaq, Inc. will post 3.87 EPS for the current fiscal year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a yield of 1.6%. Nasdaq’s dividend payout ratio is currently 37.35%.

Insider Transactions at Nasdaq

In other news, major shareholder Ab Investor bought 56,782 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the transaction, the insider owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the transaction, the senior vice president owned 10,089 shares of the company’s stock, valued at $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 138,162 shares of company stock worth $11,932,913. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NDAQ. Loop Capital set a $113.00 target price on Nasdaq in a research note on Friday, April 24th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Barclays increased their price objective on Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Finally, TD Cowen dropped their target price on Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq has an average rating of “Moderate Buy” and a consensus price target of $106.79.

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.