First Citizens Bank & Trust Co. lowered its stake in Nasdaq Inc. (NASDAQ:NDAQ) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,443 shares of the company’s stock after selling 7,585 shares during the period. First Citizens Bank & Trust Co.’s holdings in Nasdaq were worth $5,655,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC raised its position in shares of Nasdaq by 166.2% in the second quarter. Advisory Services Network LLC now owns 2,068 shares of the company’s stock valued at $134,000 after buying an additional 1,291 shares in the last quarter. IFP Advisors Inc raised its position in shares of Nasdaq by 4.6% in the first quarter. IFP Advisors Inc now owns 3,114 shares of the company’s stock valued at $207,000 after buying an additional 137 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Nasdaq during the first quarter valued at about $226,000. BKD Wealth Advisors LLC raised its position in shares of Nasdaq by 10.8% in the second quarter. BKD Wealth Advisors LLC now owns 4,038 shares of the company’s stock valued at $261,000 after buying an additional 395 shares in the last quarter. Finally, Conning Inc. raised its position in shares of Nasdaq by 5.2% in the second quarter. Conning Inc. now owns 4,036 shares of the company’s stock valued at $261,000 after buying an additional 200 shares in the last quarter. 74.20% of the stock is owned by institutional investors and hedge funds.
Shares of Nasdaq Inc. (NASDAQ:NDAQ) traded down 0.453% on Friday, hitting $67.045. The company had a trading volume of 344,111 shares. The firm’s 50 day moving average price is $69.62 and its 200-day moving average price is $66.63. Nasdaq Inc. has a 52 week low of $52.84 and a 52 week high of $71.92. The stock has a market capitalization of $11.09 billion, a PE ratio of 23.215 and a beta of 0.81.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company earned $559 million during the quarter, compared to analysts’ expectations of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. Nasdaq’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. Analysts forecast that Nasdaq Inc. will post $3.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.90%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s dividend payout ratio (DPR) is currently 44.44%.
Several research firms have recently weighed in on NDAQ. Credit Suisse Group AG reissued a “buy” rating and issued a $72.00 price objective on shares of Nasdaq in a research report on Monday, August 8th. Deutsche Bank AG lifted their price objective on Nasdaq from $76.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Evercore ISI lowered Nasdaq from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $69.00 to $68.00 in a research report on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Nasdaq presently has a consensus rating of “Hold” and a consensus price target of $69.67.
In other Nasdaq news, CEO Robert Greifeld sold 199,480 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $70.28, for a total value of $14,019,454.40. Following the completion of the sale, the chief executive officer now owns 1,064,815 shares in the company, valued at approximately $74,835,198.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas A. Wittman sold 24,893 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total value of $1,669,822.44. Following the completion of the sale, the executive vice president now owns 64,956 shares of the company’s stock, valued at approximately $4,357,248.48. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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