Meitav Investment House Ltd. reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 352,943 shares of the financial services provider’s stock after selling 1,370 shares during the period. Meitav Investment House Ltd. owned 0.07% of Nasdaq worth $17,682,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in NDAQ. Fiduciary Alliance LLC bought a new position in shares of Nasdaq during the second quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in Nasdaq by 51.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 569 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 193 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Nasdaq by 250.6% during the 4th quarter. Harbour Investments Inc. now owns 547 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 391 shares in the last quarter. Clear Street Markets LLC lifted its position in shares of Nasdaq by 93.9% in the first quarter. Clear Street Markets LLC now owns 665 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 322 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new position in Nasdaq during the first quarter worth $47,000. 72.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Nasdaq from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, October 19th. JPMorgan Chase & Co. upped their target price on Nasdaq from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. StockNews.com cut shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Bank of America dropped their price target on shares of Nasdaq from $50.00 to $49.00 in a research report on Tuesday, October 3rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $65.00 price objective on shares of Nasdaq in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Nasdaq currently has an average rating of “Hold” and an average price target of $61.09.
Insider Activity at Nasdaq
In other Nasdaq news, Director Johan Torgeby bought 14,000 shares of Nasdaq stock in a transaction on Monday, October 23rd. The shares were purchased at an average price of $50.42 per share, with a total value of $705,880.00. Following the acquisition, the director now owns 22,466 shares in the company, valued at approximately $1,132,735.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.
Nasdaq Stock Performance
Shares of NDAQ traded up $0.38 during mid-day trading on Wednesday, hitting $53.49. 330,896 shares of the company’s stock were exchanged, compared to its average volume of 2,783,443. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.50. The firm has a market cap of $30.86 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 5.50 and a beta of 0.94. The stock’s 50-day simple moving average is $50.08 and its 200-day simple moving average is $51.46. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $69.22.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $940.00 million during the quarter, compared to analysts’ expectations of $931.14 million. Nasdaq had a return on equity of 21.62% and a net margin of 18.40%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. On average, equities research analysts expect that Nasdaq, Inc. will post 2.78 EPS for the current year.
Nasdaq Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.65%. Nasdaq’s dividend payout ratio (DPR) is 39.46%.
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.
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