Round Hill Asset Management reduced its position in shares of Nasdaq Inc (NASDAQ:NDAQ) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,285 shares of the financial services provider’s stock after selling 1,625 shares during the quarter. Nasdaq comprises 2.3% of Round Hill Asset Management’s holdings, making the stock its 11th biggest position. Round Hill Asset Management’s holdings in Nasdaq were worth $4,067,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in NDAQ. Dimensional Fund Advisors LP raised its holdings in Nasdaq by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 979,622 shares of the financial services provider’s stock worth $79,904,000 after purchasing an additional 13,779 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nasdaq by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,593,512 shares of the financial services provider’s stock valued at $129,771,000 after acquiring an additional 47,797 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Nasdaq in the 1st quarter valued at about $96,000. Janney Montgomery Scott LLC increased its stake in shares of Nasdaq by 34.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,983 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 1,283 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its stake in shares of Nasdaq by 2.9% in the 1st quarter. First Republic Investment Management Inc. now owns 7,796 shares of the financial services provider’s stock valued at $682,000 after acquiring an additional 223 shares during the last quarter. 76.21% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Lars Ottersgard sold 4,861 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $99.14, for a total transaction of $481,919.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Pc Nelson Griggs sold 1,444 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $101.09, for a total value of $145,973.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,801 shares of company stock valued at $1,158,532. 0.50% of the stock is owned by company insiders.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Nasdaq had a return on equity of 14.68% and a net margin of 12.86%. The business had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $629.06 million. During the same period in the prior year, the business earned $1.18 EPS. Nasdaq’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts predict that Nasdaq Inc will post 4.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. Nasdaq’s payout ratio is 38.84%.
A number of analysts have recently commented on NDAQ shares. BidaskClub cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank lowered their price target on Nasdaq from $113.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup cut Nasdaq from a “neutral” rating to a “sell” rating and upped their price target for the company from $93.00 to $95.00 in a research note on Monday, July 22nd. Bank of America reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Nasdaq in a research note on Friday, May 31st. Finally, Raymond James upped their price target on Nasdaq from $96.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $102.44.
Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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