Nasdaq, Inc. $NDAQ Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.3% during the second quarter, HoldingsChannel.com reports. The fund owned 149,226 shares of the financial services provider’s stock after selling 1,971 shares during the period. TD Asset Management Inc’s holdings in Nasdaq were worth $13,344,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Cornerstone Wealth Group LLC grew its holdings in shares of Nasdaq by 30.1% during the second quarter. Cornerstone Wealth Group LLC now owns 4,043 shares of the financial services provider’s stock valued at $362,000 after buying an additional 935 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of Nasdaq by 39.6% during the second quarter. NorthRock Partners LLC now owns 7,707 shares of the financial services provider’s stock valued at $689,000 after buying an additional 2,187 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Nasdaq by 37.2% during the second quarter. Atria Wealth Solutions Inc. now owns 3,851 shares of the financial services provider’s stock valued at $344,000 after buying an additional 1,045 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Nasdaq by 17.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 25,244 shares of the financial services provider’s stock valued at $2,257,000 after buying an additional 3,731 shares in the last quarter. Finally, Endowment Wealth Management Inc. purchased a new position in shares of Nasdaq during the second quarter valued at $275,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares of the company’s stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares of the company’s stock, valued at $829,742.55. This represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Nasdaq Price Performance

NDAQ opened at $88.59 on Friday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The stock has a fifty day moving average price of $91.92 and a 200 day moving average price of $86.39. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 1.98 and a beta of 0.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s payout ratio is currently 41.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NDAQ shares. Raymond James Financial reiterated an “outperform” rating and set a $100.00 price target (up previously from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Barclays reiterated an “overweight” rating and set a $108.00 price target (down previously from $109.00) on shares of Nasdaq in a report on Wednesday, October 8th. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Morgan Stanley set a $90.00 price objective on Nasdaq and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a research report on Thursday, October 9th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.50.

About Nasdaq

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.