SPC Financial Inc. reduced its position in shares of Nasdaq Inc (NASDAQ:NDAQ) by 8.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,655 shares of the financial services provider’s stock after selling 3,085 shares during the period. SPC Financial Inc.’s holdings in Nasdaq were worth $3,044,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NDAQ. Flagship Harbor Advisors LLC raised its stake in shares of Nasdaq by 2.2% during the first quarter. Flagship Harbor Advisors LLC now owns 6,412 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 137 shares during the period. State Treasurer State of Michigan raised its stake in shares of Nasdaq by 1.8% during the first quarter. State Treasurer State of Michigan now owns 33,411 shares of the financial services provider’s stock valued at $2,923,000 after purchasing an additional 600 shares during the period. Wealthfront Advisers LLC raised its stake in shares of Nasdaq by 78.3% during the first quarter. Wealthfront Advisers LLC now owns 9,689 shares of the financial services provider’s stock valued at $848,000 after purchasing an additional 4,254 shares during the period. Cibc Bank USA purchased a new stake in shares of Nasdaq during the first quarter valued at approximately $788,000. Finally, Nissay Asset Management Corp Japan ADV raised its stake in shares of Nasdaq by 3.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 10,461 shares of the financial services provider’s stock valued at $915,000 after purchasing an additional 380 shares during the period. 75.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of NDAQ traded up $1.30 during midday trading on Thursday, hitting $96.62. 18,758 shares of the stock traded hands, compared to its average volume of 849,626. Nasdaq Inc has a 1-year low of $75.49 and a 1-year high of $104.69. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50 day simple moving average is $99.37.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Nasdaq had a net margin of 12.86% and a return on equity of 14.68%. The company had revenue of $665.00 million during the quarter, compared to the consensus estimate of $629.06 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Nasdaq Inc will post 4.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, September 12th. Nasdaq’s dividend payout ratio is currently 38.84%.
A number of brokerages recently issued reports on NDAQ. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Citigroup lowered shares of Nasdaq from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $93.00 to $95.00 in a research note on Monday, July 22nd. ValuEngine lowered shares of Nasdaq from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Bank of America restated a “neutral” rating and issued a $88.00 price target on shares of Nasdaq in a research note on Friday, May 31st. Finally, UBS Group lifted their price target on shares of Nasdaq from $103.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Nasdaq has a consensus rating of “Hold” and an average price target of $102.00.
In related news, insider Bradley J. Peterson sold 1,550 shares of Nasdaq stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $96.65, for a total transaction of $149,807.50. Following the sale, the insider now directly owns 21,408 shares in the company, valued at $2,069,083.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward S. Knight sold 22,059 shares of Nasdaq stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $90.83, for a total transaction of $2,003,618.97. Following the sale, the insider now owns 95,322 shares in the company, valued at $8,658,097.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,265 shares of company stock worth $3,278,752. Company insiders own 0.50% of the company’s stock.
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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