Pictet Asset Management Ltd. Raises Stake in Nasdaq Inc (NASDAQ:NDAQ)

Pictet Asset Management Ltd. raised its position in shares of Nasdaq Inc (NASDAQ:NDAQ) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,517 shares of the financial services provider’s stock after purchasing an additional 3,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Nasdaq were worth $5,820,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NDAQ. First Trust Advisors LP lifted its holdings in Nasdaq by 333.1% during the first quarter. First Trust Advisors LP now owns 514,822 shares of the financial services provider’s stock valued at $45,042,000 after purchasing an additional 395,962 shares in the last quarter. Carlson Capital L P purchased a new position in Nasdaq during the second quarter valued at approximately $21,523,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Nasdaq during the second quarter valued at approximately $19,933,000. Nordea Investment Management AB lifted its holdings in Nasdaq by 45.9% during the first quarter. Nordea Investment Management AB now owns 297,368 shares of the financial services provider’s stock valued at $26,020,000 after purchasing an additional 93,530 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Nasdaq by 1,953.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 97,372 shares of the financial services provider’s stock valued at $9,364,000 after purchasing an additional 92,630 shares in the last quarter. 76.20% of the stock is currently owned by institutional investors and hedge funds.

NDAQ stock traded down $0.66 during mid-day trading on Monday, reaching $98.86. 14,551 shares of the stock traded hands, compared to its average volume of 509,532. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. Nasdaq Inc has a one year low of $75.49 and a one year high of $105.26. The stock has a market capitalization of $16.30 billion, a PE ratio of 20.43, a PEG ratio of 2.94 and a beta of 0.65. The business has a 50-day moving average price of $98.62 and a two-hundred day moving average price of $93.82.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.03. Nasdaq had a net margin of 12.86% and a return on equity of 14.68%. The business had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $629.06 million. During the same quarter in the previous year, the business posted $1.18 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts expect that Nasdaq Inc will post 4.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 12th. Nasdaq’s dividend payout ratio (DPR) is 38.84%.

In other Nasdaq news, insider Ann M. Dennison sold 5,496 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $96.55, for a total transaction of $530,638.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lars Ottersgard sold 4,861 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $99.14, for a total transaction of $481,919.54. The disclosure for this sale can be found here. Insiders have sold 11,801 shares of company stock worth $1,158,532 in the last quarter. Company insiders own 0.50% of the company’s stock.

NDAQ has been the topic of several research analyst reports. Deutsche Bank lowered their target price on shares of Nasdaq from $113.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James boosted their target price on shares of Nasdaq from $96.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Citigroup downgraded shares of Nasdaq from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $93.00 to $95.00 in a report on Monday, July 22nd. UBS Group boosted their target price on shares of Nasdaq from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Co boosted their target price on shares of Nasdaq from $97.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Nasdaq presently has a consensus rating of “Hold” and an average price target of $102.44.

Nasdaq Company Profile

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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