New World Advisors LLC Acquires 2,370 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

New World Advisors LLC raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 61.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,220 shares of the financial services provider’s stock after acquiring an additional 2,370 shares during the period. New World Advisors LLC’s holdings in Nasdaq were worth $375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Belpointe Asset Management LLC grew its holdings in shares of Nasdaq by 77.5% during the second quarter. Belpointe Asset Management LLC now owns 17,887 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 7,810 shares during the last quarter. Consolidated Planning Corp bought a new stake in shares of Nasdaq during the second quarter worth about $296,000. Fortis Capital Advisors LLC grew its holdings in shares of Nasdaq by 77.5% during the second quarter. Fortis Capital Advisors LLC now owns 17,887 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 7,810 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Nasdaq by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 32,647 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 200 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Nasdaq by 5.5% during the second quarter. Rhumbline Advisers now owns 816,272 shares of the financial services provider’s stock worth $49,188,000 after purchasing an additional 42,625 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Rosenblatt Securities cut Nasdaq from a “buy” rating to a “neutral” rating and reduced their target price for the company from $76.00 to $64.00 in a report on Wednesday, May 8th. Barclays upped their target price on Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Bank of America upgraded Nasdaq from an “underperform” rating to a “buy” rating and upped their target price for the company from $53.00 to $90.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods upped their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.69.

Nasdaq Stock Up 3.2 %

Shares of NASDAQ:NDAQ traded up $2.28 during trading on Wednesday, reaching $73.67. 1,414,085 shares of the stock were exchanged, compared to its average volume of 2,914,652. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. Nasdaq, Inc. has a 1-year low of $46.88 and a 1-year high of $74.17. The stock has a fifty day moving average of $65.90 and a two-hundred day moving average of $62.13. The firm has a market cap of $42.38 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 3.06 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share 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 analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. Nasdaq’s revenue for the quarter was up 25.3% on a year-over-year basis. Research analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.30%. Nasdaq’s dividend payout ratio (DPR) 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 on Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the sale, the insider now owns 42,804,207 shares in the company, valued at $2,764,295,688.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by corporate 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.