Bank of New York Mellon Corp Buys 82,606 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of New York Mellon Corp lifted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,443,939 shares of the financial services provider’s stock after buying an additional 82,606 shares during the period. Bank of New York Mellon Corp owned about 0.42% of Nasdaq worth $147,272,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NDAQ. Hobbs Group Advisors LLC bought a new position in Nasdaq in the second quarter valued at about $26,000. Salem Investment Counselors Inc. grew its holdings in Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares during the last quarter. LRI Investments LLC acquired a new stake in Nasdaq in the first quarter valued at $31,000. New Millennium Group LLC acquired a new position in Nasdaq during the 2nd quarter worth about $34,000. Finally, EntryPoint Capital LLC grew its position in shares of Nasdaq by 6,408.3% in the 1st quarter. EntryPoint Capital LLC now owns 781 shares of the financial services provider’s stock valued at $49,000 after buying an additional 769 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $70.59 on Tuesday. The company has a fifty day moving average price of $64.47 and a 200-day moving average price of $61.48. The firm has a market cap of $40.60 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 2.72 and a beta of 0.94. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $70.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities research analysts predict that Nasdaq, Inc. will post 2.73 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, September 13th. Nasdaq’s dividend payout ratio is presently 50.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NDAQ shares. Barclays upped their price objective on shares of Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Rosenblatt Securities downgraded Nasdaq from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $76.00 to $64.00 in a report on Wednesday, May 8th. Oppenheimer boosted their price objective on Nasdaq from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Argus upped their target price on Nasdaq from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.54.

Insider Transactions at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the sale, the insider now owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Nasdaq Profile

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.