Heritage Family Offices LLP Purchases New Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Heritage Family Offices LLP purchased a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,776 shares of the financial services provider’s stock, valued at approximately $1,121,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Nasdaq by 12.3% during the 4th quarter. Allworth Financial LP now owns 1,292 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 141 shares during the last quarter. Crestwood Advisors Group LLC raised its position in shares of Nasdaq by 4.1% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 152 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Nasdaq by 1.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider’s stock valued at $1,260,000 after acquiring an additional 157 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Nasdaq by 4.2% during the 4th quarter. Gamco Investors INC. ET AL now owns 4,103 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 164 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Nasdaq by 10.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,048 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 192 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

NDAQ opened at $84.00 on Tuesday. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 43.75, a P/E/G ratio of 2.12 and a beta of 1.00. The business’s 50-day moving average price is $76.51 and its two-hundred day moving average price is $78.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. Nasdaq, Inc. has a 1 year low of $58.28 and a 1 year high of $84.15.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. Nasdaq’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.27 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. Nasdaq’s dividend payout ratio (DPR) is presently 49.09%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $87.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Oppenheimer dropped their target price on shares of Nasdaq from $89.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Barclays dropped their target price on shares of Nasdaq from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Citigroup lowered their price objective on shares of Nasdaq from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Nasdaq in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.50.

Insider Activity

In related news, EVP Bryan Everard Smith sold 657 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the sale, the executive vice president now directly owns 61,980 shares in the company, valued at approximately $4,450,783.80. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the sale, the insider now owns 211,405 shares of the company’s stock, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,616 shares of company stock worth $1,813,598 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

About Nasdaq

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.