Nasdaq, Inc. (NASDAQ:NDAQ) Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,024 shares of the financial services provider’s stock after selling 1,630 shares during the period. Retirement Systems of Alabama’s holdings in Nasdaq were worth $4,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Nasdaq during the 4th quarter worth about $29,000. Loomis Sayles & Co. L P acquired a new stake in shares of Nasdaq during the third quarter worth approximately $26,000. Carmel Capital Partners LLC purchased a new position in Nasdaq during the third quarter valued at approximately $32,000. Allworth Financial LP increased its stake in Nasdaq by 74.9% in the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after buying an additional 349 shares during the period. Finally, Lindbrook Capital LLC increased its stake in Nasdaq by 158.5% in the 4th quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock valued at $52,000 after buying an additional 553 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of a number of research reports. Oppenheimer upped their price target on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. StockNews.com lowered Nasdaq from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. UBS Group lifted their price target on Nasdaq from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods dropped their price objective on Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Edward Jones began coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Nasdaq presently has a consensus rating of “Moderate Buy” and an average price target of $66.92.

Insider Buying and Selling at Nasdaq

In other news, EVP Bryan Everard Smith sold 7,400 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares in the company, valued at approximately $3,879,785.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares in the company, valued at $3,383,809,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. Insiders sold a total of 31,010,436 shares of company stock valued at $1,798,647,360 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Nasdaq Stock Up 1.2 %

Nasdaq stock opened at $61.60 on Tuesday. The firm has a market cap of $35.43 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 3.36 and a beta of 0.94. The firm has a fifty day moving average price of $60.45 and a two-hundred day moving average price of $56.98. Nasdaq, Inc. has a fifty-two week low of $46.88 and a fifty-two week high of $64.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. Nasdaq’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. As a group, analysts forecast that Nasdaq, Inc. will post 2.69 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.24 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 14th. Nasdaq’s dividend payout ratio is presently 46.32%.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.