Nasdaq, Inc. $NDAQ Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 15.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,263,644 shares of the financial services provider’s stock after selling 411,283 shares during the quarter. Bank of New York Mellon Corp’s holdings in Nasdaq were worth $219,868,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Nasdaq by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock valued at $5,819,727,000 after purchasing an additional 268,481 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Nasdaq by 4.8% in the 4th 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 purchasing an additional 1,258,964 shares during the period. State Street Corp boosted its holdings in Nasdaq by 7.7% in the 3rd quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock valued at $1,735,318,000 after purchasing an additional 1,404,348 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nasdaq by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock worth $1,243,807,000 after acquiring an additional 378,577 shares during the period. Finally, Norges Bank bought a new position in Nasdaq during the 4th quarter valued at about $530,100,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $87.28 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $88.52 and its two-hundred day moving average price is $90.06. Nasdaq, Inc. has a one year low of $77.09 and a one year high of $101.79. The company has a market cap of $49.36 billion, a P/E ratio of 26.29, a P/E/G ratio of 1.77 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $0.79 earnings per share. Nasdaq’s revenue was up 13.7% compared to the same quarter last year. Equities analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.31 per share. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s dividend payout ratio (DPR) is currently 32.53%.

Insider Activity at Nasdaq

In other Nasdaq news, insider Cohen Tal sold 15,518 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $88.82, for a total transaction of $117,508.86. Following the sale, the senior vice president directly owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 138,162 shares of company stock worth $11,932,913 over the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on NDAQ shares. Raymond James Financial restated an “outperform” rating and issued a $109.00 price objective on shares of Nasdaq in a research report on Wednesday, February 25th. Loop Capital set a $113.00 price objective on shares of Nasdaq in a report on Friday, April 24th. TD Cowen upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $106.00 in a report on Thursday, February 26th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.15.

Nasdaq Company Profile

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.