Nasdaq, Inc. $NDAQ Shares Sold by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 95.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389 shares of the financial services provider’s stock after selling 7,443 shares during the period. Hartford Funds Management Co LLC’s holdings in Nasdaq were worth $35,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in Nasdaq during the 1st quarter worth $241,614,000. Invesco Ltd. boosted its stake in Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after acquiring an additional 1,592,057 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Nasdaq by 5.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock worth $1,550,115,000 after purchasing an additional 993,553 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Nasdaq by 54.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock worth $240,468,000 after purchasing an additional 952,354 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Nasdaq by 104.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock valued at $125,574,000 after purchasing an additional 845,725 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $87.24 on Monday. The firm has a market cap of $49.81 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The firm’s fifty day moving average price is $89.61 and its 200 day moving average price is $88.32.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, sell-side analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s dividend payout ratio is 38.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NDAQ. UBS Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and raised their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Piper Sandler lifted their target price on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 4th. TD Cowen increased their price target on shares of Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, Cowen restated a “hold” rating on shares of Nasdaq in a research note on Wednesday, October 22nd. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

Nasdaq Company 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.