Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) major shareholder Ab Investor bought 56,782 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Nasdaq Trading Up 2.3%
Shares of Nasdaq stock opened at $91.04 on Tuesday. The stock has a market cap of $51.49 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.78 and a beta of 0.97. The stock's 50 day simple moving average is $88.96 and its 200-day simple moving average is $90.12. Nasdaq, Inc. has a 1-year low of $77.09 and a 1-year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. Analysts predict that Nasdaq, Inc. will post 3.86 EPS for the current fiscal year.
Nasdaq Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. This is an increase from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's payout ratio is presently 37.35%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Nasdaq by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider's stock valued at $5,819,727,000 after acquiring an additional 268,481 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider's stock valued at $2,683,485,000 after acquiring an additional 1,258,964 shares during the last quarter. State Street Corp lifted its holdings in Nasdaq by 1.3% in the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider's stock valued at $1,930,808,000 after acquiring an additional 259,408 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Nasdaq by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock valued at $1,243,807,000 after acquiring an additional 378,577 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Nasdaq by 62.6% in the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after acquiring an additional 3,567,843 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a report on Thursday. Loop Capital set a $113.00 price objective on Nasdaq in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Finally, TD Cowen upgraded Nasdaq from a "hold" rating to a "buy" rating and upped their price objective for the company from $105.00 to $106.00 in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.36.
Get Our Latest Analysis on Nasdaq
About Nasdaq
(
Get Free Report)
Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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