Raymond James Trust N.A. Boosts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Raymond James Trust N.A. raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,047 shares of the financial services provider’s stock after purchasing an additional 705 shares during the period. Raymond James Trust N.A.’s holdings in Nasdaq were worth $1,026,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Farallon Capital Management LLC increased its stake in shares of Nasdaq by 28.4% in the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after purchasing an additional 1,866,219 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Nasdaq by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock worth $287,270,000 after purchasing an additional 94,122 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Nasdaq by 13,532.3% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after purchasing an additional 3,970,658 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Nasdaq by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock valued at $147,272,000 after acquiring an additional 82,606 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Nasdaq by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,843 shares of the financial services provider’s stock valued at $142,144,000 after acquiring an additional 174,778 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Up 0.2 %

NDAQ stock opened at $81.07 on Monday. The company has a market capitalization of $46.60 billion, a PE ratio of 48.55, a price-to-earnings-growth ratio of 3.15 and a beta of 0.95. Nasdaq, Inc. has a one year low of $53.62 and a one year high of $81.35. The company’s 50 day moving average price is $75.11 and its two-hundred day moving average price is $68.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. As a group, analysts predict that Nasdaq, Inc. will post 2.79 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

Insider Buying and Selling

In related news, insider Pc Nelson Griggs sold 6,000 shares of Nasdaq stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.71, for a total value of $454,260.00. Following the transaction, the insider now directly owns 215,563 shares of the company’s stock, valued at $16,320,274.73. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly owns 142,830 shares in the company, valued at approximately $10,757,955.60. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,459 shares of company stock valued at $3,811,808 over the last three months. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

NDAQ has been the subject of a number of analyst reports. TD Cowen cut their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Piper Sandler raised their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Argus raised their price objective on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. UBS Group raised their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.87.

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.