6,835 Shares in Nasdaq, Inc. $NDAQ Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC bought a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,835 shares of the financial services provider’s stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MV Capital Management Inc. bought a new stake in shares of Nasdaq during the 4th quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new position in Nasdaq in the 4th quarter worth $34,000. Nemes Rush Group LLC bought a new position in Nasdaq in the 4th quarter worth $35,000. Uniplan Investment Counsel Inc. purchased a new position in Nasdaq during the fourth quarter valued at $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Nasdaq during the fourth quarter valued at $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nasdaq news, major shareholder Ab Investor purchased 56,782 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider directly owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by insiders.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $93.94 on Tuesday. 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 business’s 50-day simple moving average is $87.46 and its two-hundred day simple moving average is $88.40. The stock has a market cap of $52.51 billion, a PE ratio of 27.39, a P/E/G ratio of 1.43 and a beta of 0.99. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, analysts forecast that Nasdaq, Inc. will post 4.03 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued 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 1.3%. Nasdaq’s payout ratio is currently 36.15%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NDAQ. Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. TD Cowen reiterated a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Finally, Raymond James Financial restated an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $109.73.

Nasdaq 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.