Investmark Advisory Group LLC Takes $664,000 Position in Nasdaq, Inc. $NDAQ

Investmark Advisory Group LLC bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,425 shares of the financial services provider’s stock, valued at approximately $664,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Empowered Funds LLC increased its stake in Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 538 shares during the period. Woodline Partners LP grew its holdings in shares of Nasdaq by 40.7% during the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock worth $2,652,000 after buying an additional 10,110 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Nasdaq by 22.0% during the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after buying an additional 2,584 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Nasdaq by 345.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 463 shares during the period. Finally, Guggenheim Capital LLC increased its position in Nasdaq by 4.4% in the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 481 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Up 0.0%

NASDAQ NDAQ opened at $96.71 on Wednesday. The stock has a market capitalization of $54.06 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.31 and a beta of 0.96. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The firm has a 50-day moving average price of $89.26 and a 200 day moving average price of $87.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

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 analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

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 paid a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s payout ratio is 36.15%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Loop Capital set a $113.00 price objective on Nasdaq in a research report on Friday, April 24th. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. TD Cowen restated a “buy” rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 price target on shares of Nasdaq in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $110.30.

Insider Activity at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction 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 owned 128,293 shares of the company’s stock, valued at $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pc Nelson Griggs sold 11,010 shares of the 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 transaction, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,797 shares of company stock worth $3,926,319 over the last three months. 0.60% 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.