DAVENPORT & Co LLC Increases Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

DAVENPORT & Co LLC increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,120 shares of the financial services provider’s stock after purchasing an additional 4,113 shares during the period. DAVENPORT & Co LLC’s holdings in Nasdaq were worth $5,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. State of Michigan Retirement System lifted its stake in shares of Nasdaq by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 93,190 shares of the financial services provider’s stock worth $5,418,000 after buying an additional 300 shares during the period. Mcrae Capital Management Inc. lifted its position in Nasdaq by 5.7% during the 4th quarter. Mcrae Capital Management Inc. now owns 290,846 shares of the financial services provider’s stock worth $16,910,000 after acquiring an additional 15,570 shares during the period. Cigna Investments Inc. New purchased a new stake in Nasdaq during the 4th quarter valued at about $213,000. Bensler LLC increased its holdings in shares of Nasdaq by 1.2% in the fourth quarter. Bensler LLC now owns 46,825 shares of the financial services provider’s stock valued at $2,722,000 after purchasing an additional 572 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Nasdaq by 1.7% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 224,908 shares of the financial services provider’s stock worth $12,755,000 after purchasing an additional 3,751 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NDAQ shares. Piper Sandler upped their target price on Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Tuesday, March 26th. UBS Group raised their target price on shares of Nasdaq from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Oppenheimer upped their price target on shares of Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Citigroup lifted their price objective on Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Insider Buying and Selling

In other news, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the sale, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the sale, the executive vice president now owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Nasdaq Trading Up 0.4 %

NDAQ stock opened at $61.58 on Thursday. Nasdaq, Inc. has a 52-week low of $46.88 and a 52-week high of $63.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.94. The firm has a market cap of $35.46 billion, a P/E ratio of 29.18, a PEG ratio of 2.90 and a beta of 0.93. The company’s 50-day simple moving average is $58.46 and its 200-day simple moving average is $55.06.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. Nasdaq’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts forecast that Nasdaq, Inc. will post 2.74 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.43%. Nasdaq’s dividend payout ratio is currently 41.71%.

About Nasdaq

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.