Modern Wealth Management LLC Acquires Shares of 6,835 Nasdaq, Inc. $NDAQ

Modern Wealth Management LLC acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,835 shares of the financial services provider’s stock, valued at approximately $582,000.

Several other large investors have also recently made changes to their positions in NDAQ. Arrowstreet Capital Limited Partnership lifted its position in shares of Nasdaq by 4,198.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 229,556 shares of the financial services provider’s stock worth $19,487,000 after buying an additional 224,216 shares in the last quarter. First Washington CORP grew its holdings in Nasdaq by 64.9% during the 1st quarter. First Washington CORP now owns 67,074 shares of the financial services provider’s stock valued at $5,694,000 after buying an additional 26,406 shares in the last quarter. Bank of Nova Scotia grew its holdings in Nasdaq by 3.1% during the 1st quarter. Bank of Nova Scotia now owns 373,982 shares of the financial services provider’s stock valued at $31,747,000 after buying an additional 11,140 shares in the last quarter. Cetera Investment Advisers increased its stake in Nasdaq by 16.3% in the 1st quarter. Cetera Investment Advisers now owns 218,632 shares of the financial services provider’s stock worth $18,560,000 after acquiring an additional 30,715 shares during the last quarter. Finally, Militia Capital Management LLC bought a new stake in Nasdaq in the 1st quarter worth approximately $555,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $93.94 on Tuesday. The stock’s fifty day moving average is $87.46 and its 200 day moving average is $88.40. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The firm has a market capitalization of $52.51 billion, a PE ratio of 27.39, a PEG ratio of 1.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.Nasdaq’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 4.03 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is 36.15%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NDAQ shares. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Barclays restated an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Nasdaq in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $109.73.

Insider Activity at Nasdaq

In other news, major shareholder Ab Investor purchased 56,782 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the purchase, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Company 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.