Wellington Management Group LLP Reduces Position in Nasdaq, Inc. $NDAQ

Wellington Management Group LLP trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 16.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 30,332,286 shares of the financial services provider’s stock after selling 5,946,692 shares during the period. Wellington Management Group LLP owned 0.05% of Nasdaq worth $2,390,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new stake in Nasdaq during the 4th quarter valued at about $28,000. Fiduciary Financial Advisors acquired a new position in shares of Nasdaq in the second quarter valued at about $25,000. Nemes Rush Group LLC purchased a new position in shares of Nasdaq in the fourth quarter worth about $35,000. Uniplan Investment Counsel Inc. purchased a new position in Nasdaq during the 4th quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity

In other news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider directly owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ab Investor bought 56,782 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the transaction, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 41,797 shares of company stock valued at $3,926,319. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NDAQ. Keefe, Bruyette & Woods lifted their price target on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. TD Cowen restated a “buy” rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Barclays reaffirmed an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price objective on shares of Nasdaq in a report on Friday, July 24th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $110.30.

Nasdaq Stock Down 0.0%

NASDAQ NDAQ opened at $99.31 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market cap of $55.51 billion, a PE ratio of 28.95, a P/E/G ratio of 1.32 and a beta of 0.97. The business’s fifty day simple moving average is $91.20 and its 200-day simple moving average is $88.40. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio is presently 36.15%.

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.