Financial Advocates Investment Management Purchases New Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Financial Advocates Investment Management bought a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,186 shares of the financial services provider’s stock, valued at approximately $243,000.

Several other large investors have also modified their holdings of the stock. NorthRock Partners LLC bought a new position in shares of Nasdaq during the fourth quarter worth about $210,000. Navellier & Associates Inc. bought a new position in shares of Nasdaq during the fourth quarter worth about $240,000. Kingsview Wealth Management LLC bought a new position in shares of Nasdaq during the fourth quarter worth about $1,949,000. Baader Bank Aktiengesellschaft lifted its position in shares of Nasdaq by 42,912.8% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 178,503 shares of the financial services provider’s stock worth $10,375,000 after purchasing an additional 178,088 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Nasdaq by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 224,054 shares of the financial services provider’s stock worth $13,026,000 after purchasing an additional 27,032 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Up 0.0 %

Nasdaq stock opened at $62.45 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $35.92 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 3.39 and a beta of 0.94. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $64.25. The firm’s 50 day moving average price is $61.26 and its two-hundred day moving average price is $57.92.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. On average, research analysts predict that Nasdaq, Inc. will post 2.68 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.24 dividend. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, June 14th. This represents a $0.96 annualized dividend and a yield of 1.54%. Nasdaq’s payout ratio is 50.53%.

Insiders Place Their Bets

In related news, EVP Bryan Everard Smith sold 3,036 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total value of $181,826.04. Following the completion of the transaction, the executive vice president now owns 58,636 shares of the company’s stock, valued at approximately $3,511,710.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of Nasdaq stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the completion of the sale, the executive vice president now owns 58,636 shares of the company’s stock, valued at approximately $3,511,710.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,010,436 shares of company stock worth $1,798,647,360. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NDAQ. Rosenblatt Securities cut shares of Nasdaq from a “buy” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $64.00 in a report on Wednesday, May 8th. Morgan Stanley raised shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $59.00 to $80.00 in a report on Tuesday, April 9th. The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Tuesday, March 26th. Barclays cut their target price on shares of Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler raised their target price on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Nasdaq has an average rating of “Moderate Buy” and a consensus target price of $65.92.

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.