Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 983,074 shares of the financial services provider’s stock after selling 11,501 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.17% of Nasdaq worth $57,156,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NDAQ. RB Capital Management LLC grew its holdings in shares of Nasdaq by 15.9% during the first quarter. RB Capital Management LLC now owns 3,264 shares of the financial services provider’s stock worth $582,000 after buying an additional 448 shares in the last quarter. American Century Companies Inc. boosted its position in Nasdaq by 10.2% during the first quarter. American Century Companies Inc. now owns 2,209 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 205 shares during the last quarter. Raymond James Trust N.A. grew its stake in Nasdaq by 14.1% during the 1st quarter. Raymond James Trust N.A. now owns 3,932 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 487 shares in the last quarter. Sei Investments Co. raised its holdings in Nasdaq by 8.4% in the 1st quarter. Sei Investments Co. now owns 136,395 shares of the financial services provider’s stock valued at $24,319,000 after acquiring an additional 10,623 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Nasdaq by 32.0% in the 1st quarter. Allianz Asset Management GmbH now owns 316,344 shares of the financial services provider’s stock worth $56,373,000 after purchasing an additional 76,603 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NDAQ. StockNews.com raised Nasdaq from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Piper Sandler lifted their price target on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. UBS Group upped their price objective on shares of Nasdaq from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Edward Jones began coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They set a “buy” rating on the stock. Finally, Barclays assumed coverage on shares of Nasdaq in a research note on Thursday, April 11th. They issued an “overweight” rating and a $76.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and an average target price of $67.09.

Nasdaq Stock Up 0.1 %

Shares of NASDAQ NDAQ opened at $60.07 on Friday. Nasdaq, Inc. has a 52-week low of $46.88 and a 52-week high of $64.25. The business’s 50 day moving average is $59.37 and its two-hundred day moving average is $55.96. The firm has a market cap of $34.55 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.73 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.94.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Research analysts predict that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.22 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.46%. Nasdaq’s dividend payout ratio (DPR) is 41.71%.

Insider Transactions at Nasdaq

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the completion of the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

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.