US Bancorp DE Purchases 16,950 Shares of Nasdaq, Inc. $NDAQ

US Bancorp DE raised its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 35.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,153 shares of the financial services provider’s stock after purchasing an additional 16,950 shares during the quarter. US Bancorp DE’s holdings in Nasdaq were worth $5,737,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC grew its stake in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 120 shares during the period. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 216 shares during the period. Highline Wealth Partners LLC grew its stake in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq during the 1st quarter valued at about $26,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Nasdaq during the 1st quarter valued at about $30,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Trading Down 2.7%

NDAQ stock opened at $88.90 on Monday. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $51.01 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.02 and a beta of 0.98. The business has a 50 day simple moving average of $92.68 and a two-hundred day simple moving average of $86.01.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq’s dividend payout ratio is presently 41.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NDAQ shares. Oppenheimer restated an “outperform” rating and set a $101.00 price target (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Saturday, September 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.25.

Insider Activity at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% 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.