Chevy Chase Trust Holdings LLC Trims Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 934,203 shares of the financial services provider’s stock after selling 8,320 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.16% of Nasdaq worth $56,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NDAQ. Salem Investment Counselors Inc. grew its stake in shares of Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 201 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Nasdaq in the 2nd quarter valued at $26,000. LRI Investments LLC acquired a new position in Nasdaq in the 1st quarter valued at $31,000. EntryPoint Capital LLC raised its position in Nasdaq by 6,408.3% during the 1st quarter. EntryPoint Capital LLC now owns 781 shares of the financial services provider’s stock worth $49,000 after buying an additional 769 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Nasdaq by 158.5% in the 4th quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 553 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

NDAQ has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer increased their target price on Nasdaq from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays upped their price objective on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com cut Nasdaq from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.54.

Nasdaq Price Performance

Shares of NASDAQ NDAQ traded up $0.12 on Tuesday, hitting $70.09. The company’s stock had a trading volume of 2,020,707 shares, compared to its average volume of 2,987,880. The stock has a 50 day moving average of $63.55 and a 200-day moving average of $61.08. The company has a market capitalization of $40.32 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $70.19. 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 posted its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. Nasdaq’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, research analysts predict that Nasdaq, Inc. will post 2.73 EPS for the current year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, September 13th. Nasdaq’s payout ratio is currently 50.53%.

Insider Buying and Selling

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 transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Nasdaq Company 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.