Pictet Asset Management SA trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Get Rating) by 34.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,904 shares of the financial services provider’s stock after selling 29,404 shares during the period. Pictet Asset Management SA’s holdings in Nasdaq were worth $8,680,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Aviva PLC increased its holdings in Nasdaq by 16.6% in the 2nd quarter. Aviva PLC now owns 33,661 shares of the financial services provider’s stock valued at $5,135,000 after acquiring an additional 4,793 shares during the last quarter. Advisory Services Network LLC increased its holdings in Nasdaq by 92.3% in the 2nd quarter. Advisory Services Network LLC now owns 2,181 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 1,047 shares during the last quarter. State of Michigan Retirement System increased its holdings in Nasdaq by 5.4% in the 2nd quarter. State of Michigan Retirement System now owns 31,130 shares of the financial services provider’s stock valued at $4,749,000 after acquiring an additional 1,600 shares during the last quarter. Metis Global Partners LLC increased its holdings in Nasdaq by 16.4% in the 2nd quarter. Metis Global Partners LLC now owns 2,158 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 304 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Nasdaq in the 2nd quarter worth about $31,000. 73.57% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on NDAQ shares. StockNews.com started coverage on shares of Nasdaq in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of Nasdaq from a “neutral” rating to an “overweight” rating and set a $70.00 target price on the stock in a report on Thursday, October 6th. Oppenheimer boosted their target price on shares of Nasdaq from $65.00 to $71.00 in a report on Wednesday, November 9th. Redburn Partners began coverage on shares of Nasdaq in a report on Monday, November 14th. They set a “neutral” rating on the stock. Finally, UBS Group downgraded shares of Nasdaq to a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.44.
Nasdaq Stock Up 1.0 %
Shares of NASDAQ NDAQ opened at $65.52 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $32.19 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 5.23 and a beta of 0.94. The stock’s fifty day simple moving average is $60.32 and its two-hundred day simple moving average is $56.67. Nasdaq, Inc. has a 12-month low of $46.77 and a 12-month high of $70.55.
Nasdaq (NASDAQ:NDAQ – Get Rating) last announced its earnings results on Wednesday, October 19th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $890.00 million for the quarter, compared to analysts’ expectations of $884.15 million. Nasdaq had a return on equity of 22.08% and a net margin of 18.72%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. As a group, analysts expect that Nasdaq, Inc. will post 2.68 EPS for the current fiscal year.
Nasdaq Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. Nasdaq’s dividend payout ratio is presently 35.04%.
Nasdaq Company Profile
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions.
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