Harbor Investment Advisory LLC Acquires 600 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Harbor Investment Advisory LLC increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,528 shares of the financial services provider’s stock after purchasing an additional 600 shares during the period. Harbor Investment Advisory LLC’s holdings in Nasdaq were worth $723,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NDAQ. Rakuten Securities Inc. acquired a new position in shares of Nasdaq during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in shares of Nasdaq during the 4th quarter valued at $33,000. Kapitalo Investimentos Ltda bought a new stake in shares of Nasdaq during the 4th quarter valued at $37,000. TCTC Holdings LLC acquired a new stake in Nasdaq in the fourth quarter valued at about $41,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Nasdaq in the fourth quarter valued at about $43,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.6%

Nasdaq stock opened at $84.00 on Tuesday. The business has a fifty day moving average of $76.51 and a two-hundred day moving average of $78.32. The firm has a market cap of $48.23 billion, a P/E ratio of 43.75, a P/E/G ratio of 2.12 and a beta of 1.00. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. Nasdaq, Inc. has a twelve month low of $58.28 and a twelve month high of $84.15.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.27 per share. This is a positive change from Nasdaq’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, June 13th. Nasdaq’s dividend payout ratio is presently 49.09%.

Insider Activity at Nasdaq

In other news, insider Pc Nelson Griggs sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider now owns 211,405 shares of the company’s stock, valued at approximately $17,552,957.15. This represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Youngwood sold 14,959 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the transaction, the executive vice president now owns 59,694 shares of the company’s stock, valued at approximately $4,398,253.92. The trade was a 20.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,616 shares of company stock valued at $1,813,598. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price target for the company. in a report on Tuesday, April 8th. Citigroup reduced their price objective on Nasdaq from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Nasdaq in a research note on Thursday, April 10th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Nasdaq from $87.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Nasdaq presently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

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.