Dana Investment Advisors Inc. trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 7.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,005 shares of the financial services provider’s stock after selling 169 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Nasdaq were worth $352,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Dupont Capital Management Corp lifted its stake in Nasdaq by 96.0% in the second quarter. Dupont Capital Management Corp now owns 5,723 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 2,803 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Nasdaq by 13.9% in the first quarter. CIBC Asset Management Inc now owns 26,617 shares of the financial services provider’s stock valued at $3,925,000 after buying an additional 3,254 shares during the last quarter. Guinness Asset Management LTD lifted its stake in Nasdaq by 50.8% in the second quarter. Guinness Asset Management LTD now owns 2,375 shares of the financial services provider’s stock valued at $418,000 after buying an additional 800 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Nasdaq in the first quarter valued at $338,000. Finally, Blair William & Co. IL lifted its stake in Nasdaq by 2.8% in the first quarter. Blair William & Co. IL now owns 5,048 shares of the financial services provider’s stock valued at $744,000 after buying an additional 136 shares during the last quarter. Institutional investors own 71.40% of the company’s stock.
A number of research firms have issued reports on NDAQ. Oppenheimer began coverage on Nasdaq in a research note on Wednesday, July 21st. They issued a “buy” rating and a $195.00 target price on the stock. Piper Sandler lifted their price objective on shares of Nasdaq from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 12th. Morgan Stanley lifted their price objective on shares of Nasdaq from $208.00 to $222.00 and gave the company an “overweight” rating in a research note on Friday, July 23rd. Citigroup lifted their price objective on shares of Nasdaq from $181.00 to $193.00 and gave the company a “neutral” rating in a research note on Thursday, July 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Nasdaq from a “buy” rating to a “hold” rating and set a $177.00 price objective on the stock. in a research note on Wednesday, June 9th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Nasdaq has an average rating of “Buy” and a consensus target price of $179.04.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.17. The firm had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $825.84 million. Nasdaq had a return on equity of 18.34% and a net margin of 18.97%. Nasdaq’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $1.54 EPS. Sell-side analysts expect that Nasdaq, Inc. will post 7.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Friday, September 10th will be paid a $0.54 dividend. The ex-dividend date is Thursday, September 9th. This represents a $2.16 dividend on an annualized basis and a yield of 1.10%. Nasdaq’s dividend payout ratio is currently 34.95%.
In other Nasdaq news, EVP Pc Nelson Griggs sold 2,000 shares of Nasdaq stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $187.66, for a total transaction of $375,320.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lars Ottersgard sold 4,000 shares of Nasdaq stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $191.42, for a total value of $765,680.00. The disclosure for this sale can be found here. Insiders sold a total of 8,546 shares of company stock worth $1,630,302 in the last three months. 0.60% of the stock is currently owned by company insiders.
Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information and public & private company services. It operates through the following segments: Market Services, Corporate Services, Information Services and Market Technology. The Market Services segment includes its equity derivative trading and clearing, cash equity trading, FICC and trade management services businesses.
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