Penobscot Investment Management Company Inc. Sells 2,135 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Penobscot Investment Management Company Inc. reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,226 shares of the financial services provider’s stock after selling 2,135 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Nasdaq were worth $2,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its holdings in shares of Nasdaq by 5.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,788 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 255 shares during the period. State of Michigan Retirement System raised its holdings in shares of Nasdaq by 0.3% in the fourth quarter. State of Michigan Retirement System now owns 93,190 shares of the financial services provider’s stock valued at $5,418,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Nasdaq by 0.3% in the third quarter. Arizona State Retirement System now owns 93,723 shares of the financial services provider’s stock valued at $4,554,000 after buying an additional 306 shares during the last quarter. Avitas Wealth Management LLC raised its holdings in shares of Nasdaq by 1.7% in the fourth quarter. Avitas Wealth Management LLC now owns 19,094 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 315 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Nasdaq by 74.9% in the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after buying an additional 349 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Down 0.5 %

NASDAQ NDAQ traded down $0.33 during trading on Tuesday, hitting $59.75. The stock had a trading volume of 1,359,729 shares, compared to its average volume of 3,164,855. The company has a market capitalization of $34.37 billion, a PE ratio of 31.62, a P/E/G ratio of 2.79 and a beta of 0.93. The company’s 50-day moving average price is $60.02 and its two-hundred day moving average price is $56.63. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.01 and a current ratio of 0.99. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $64.25.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 2.71 EPS for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s dividend payout ratio is currently 46.32%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NDAQ shares. Piper Sandler lifted their price target on Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Oppenheimer lifted their price objective on Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Edward Jones assumed coverage on Nasdaq in a research report on Wednesday, April 3rd. They issued a “buy” rating for the company. Citigroup lifted their price objective on Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on Nasdaq from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.92.

Insider Transactions at Nasdaq

In other news, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.91, for a total transaction of $465,534.00. Following the sale, the executive vice president now owns 61,672 shares in the company, valued at approximately $3,879,785.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the transaction, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bryan Everard Smith sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now directly owns 61,672 shares in the company, valued at $3,879,785.52. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Nasdaq Profile

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.