Chevy Chase Trust Holdings LLC Has $97.35 Million Holdings in Nasdaq, Inc. $NDAQ

Chevy Chase Trust Holdings LLC increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,100,667 shares of the financial services provider’s stock after purchasing an additional 73,412 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.19% of Nasdaq worth $97,354,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Nasdaq by 6.9% in the third quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider’s stock worth $5,275,902,000 after purchasing an additional 3,848,406 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Nasdaq by 33.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock valued at $2,438,897,000 after buying an additional 6,840,735 shares during the period. Invesco Ltd. increased its holdings in Nasdaq by 11.8% in the 3rd quarter. Invesco Ltd. now owns 5,044,521 shares of the financial services provider’s stock valued at $446,188,000 after buying an additional 532,775 shares during the period. Norges Bank acquired a new position in shares of Nasdaq in the 2nd quarter valued at $406,823,000. Finally, Amundi raised its stake in shares of Nasdaq by 55.7% in the 2nd quarter. Amundi now owns 3,535,689 shares of the financial services provider’s stock valued at $316,515,000 after buying an additional 1,264,975 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Up 1.7%

NDAQ opened at $85.53 on Friday. The firm has a market cap of $48.62 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day simple moving average is $90.63 and its 200-day simple moving average is $90.71. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Equities research analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.27 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s payout ratio is 34.95%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NDAQ. Raymond James Financial reiterated an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a research report on Wednesday, February 25th. Barclays reissued an “overweight” rating and issued a $115.00 price target (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. Argus upgraded shares of Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. UBS Group reaffirmed a “buy” rating and set a $120.00 price objective (up from $115.00) on shares of Nasdaq in a report on Monday, January 12th. Finally, Morgan Stanley set a $116.00 price objective on Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $103.80.

Insider Buying and Selling

In related news, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president directly owned 125,674 shares of the company’s stock, valued at $12,568,656.74. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adena T. Friedman sold 300,000 shares of Nasdaq stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the transaction, the chief executive officer owned 1,924,903 shares of the company’s stock, valued at approximately $186,542,349.73. The trade was a 13.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 697,340 shares of company stock valued at $66,803,072 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

About Nasdaq

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.