Pictet Asset Management Holding SA Has $23.32 Million Position in Nasdaq, Inc. $NDAQ

Pictet Asset Management Holding SA cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,810 shares of the financial services provider’s stock after selling 25,689 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Nasdaq were worth $23,324,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NDAQ. Empowered Funds LLC boosted its holdings in shares of Nasdaq by 3.8% during the 1st quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after buying an additional 538 shares during the period. Woodline Partners LP raised its holdings in Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after acquiring an additional 10,110 shares during the period. Focus Partners Wealth lifted its position in Nasdaq by 22.0% during the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after acquiring an additional 2,584 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Nasdaq by 345.5% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 463 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in shares of Nasdaq by 4.4% during the second quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 481 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity

In other news, insider Cohen Tal sold 15,518 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the transaction, the insider directly owned 215,208 shares in the company, valued at approximately $19,530,126. The trade was a 6.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ab Investor purchased 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the acquisition, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 24,551 shares of company stock worth $2,225,990. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

NDAQ has been the topic of a number of recent research reports. Loop Capital set a $113.00 target price on Nasdaq in a research note on Friday, April 24th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. TD Cowen decreased their price objective on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. Finally, Barclays upped their price target on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.54.

Nasdaq Trading Up 5.0%

Shares of NASDAQ:NDAQ opened at $82.73 on Thursday. The business’s 50 day simple moving average is $87.67 and its 200 day simple moving average is $89.38. Nasdaq, Inc. has a 1 year low of $76.55 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. The company has a market capitalization of $46.79 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.57 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion during 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 company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. On average, research analysts anticipate that Nasdaq, Inc. will post 3.87 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. Nasdaq’s payout ratio is presently 37.35%.

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.