FMR LLC lifted its position in Nasdaq Inc (NASDAQ:NDAQ) by 82.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,651,639 shares of the financial services provider’s stock after buying an additional 744,666 shares during the period. FMR LLC owned approximately 1.00% of Nasdaq worth $150,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC bought a new stake in Nasdaq during the second quarter valued at about $125,000. TNB Financial bought a new stake in shares of Nasdaq in the second quarter worth about $201,000. GWM Advisors LLC bought a new stake in shares of Nasdaq in the second quarter worth about $207,000. NuWave Investment Management LLC bought a new stake in shares of Nasdaq in the second quarter worth about $216,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Nasdaq in the first quarter worth about $214,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.
NDAQ has been the topic of several research reports. Citigroup lifted their target price on Nasdaq from $89.00 to $95.00 and gave the stock a “$95.59” rating in a report on Wednesday, July 18th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $104.00 target price on shares of Nasdaq in a report on Friday, June 22nd. Zacks Investment Research raised Nasdaq from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Tuesday, June 12th. BidaskClub cut Nasdaq from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, UBS Group boosted their price objective on Nasdaq from $101.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Nasdaq currently has a consensus rating of “Hold” and a consensus target price of $93.67.
Shares of NASDAQ NDAQ traded down $0.30 during trading hours on Friday, reaching $85.53. The stock had a trading volume of 601,965 shares, compared to its average volume of 919,976. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.86 and a beta of 0.65. Nasdaq Inc has a 52-week low of $71.65 and a 52-week high of $96.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 0.93.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. The company had revenue of $615.00 million during the quarter, compared to the consensus estimate of $620.25 million. Nasdaq had a net margin of 18.13% and a return on equity of 13.40%. Nasdaq’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Analysts forecast that Nasdaq Inc will post 4.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, September 13th. Nasdaq’s dividend payout ratio (DPR) is 43.35%.
In related news, insider Bradley J. Peterson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $93.34, for a total value of $140,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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