Equitable Holdings Inc. Makes New Investment in Nasdaq, Inc. $NDAQ

Equitable Holdings Inc. purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,716 shares of the financial services provider’s stock, valued at approximately $529,000.

Several other hedge funds also recently made changes to their positions in the stock. Independent Advisor Alliance boosted its stake in Nasdaq by 2.6% in the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 117 shares during the period. Quantum Portfolio Management LLC increased its position in shares of Nasdaq by 1.8% during the first quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock valued at $606,000 after buying an additional 123 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of Nasdaq by 5.2% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider’s stock valued at $264,000 after buying an additional 133 shares during the period. Fielder Capital Group LLC lifted its holdings in shares of Nasdaq by 3.1% in the fourth quarter. Fielder Capital Group LLC now owns 4,571 shares of the financial services provider’s stock worth $444,000 after buying an additional 137 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Nasdaq by 2.5% in the first quarter. Arkadios Wealth Advisors now owns 5,643 shares of the financial services provider’s stock worth $479,000 after buying an additional 137 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

NDAQ stock opened at $99.31 on Monday. The firm has a market cap of $55.51 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.32 and a beta of 0.96. The firm’s fifty day moving average is $91.20 and its 200 day moving average is $88.42. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

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, topping 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 the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts predict that Nasdaq, Inc. will post 4.15 earnings per share for the current year.

Nasdaq Dividend Announcement

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

Insider Activity

In related news, EVP Bradley J. Peterson sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the transaction, the executive vice president directly owned 128,293 shares in the company, valued at $11,881,214.73. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction that occurred 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 transaction, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 41,797 shares of company stock valued at $3,926,319. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. TD Cowen reaffirmed a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Nasdaq has an average rating of “Buy” and a consensus target price of $110.30.

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.