Franklin Resources Inc. increased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,589,679 shares of the financial services provider’s stock after purchasing an additional 6,786 shares during the quarter. Franklin Resources Inc.’s holdings in Nasdaq were worth $1,028,576,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Erste Asset Management GmbH raised its stake in Nasdaq by 31.2% in the fourth quarter. Erste Asset Management GmbH now owns 4,516 shares of the financial services provider’s stock worth $446,000 after buying an additional 1,073 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Nasdaq by 12.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 73,086 shares of the financial services provider’s stock worth $7,099,000 after buying an additional 8,177 shares in the last quarter. Manchester Capital Management LLC raised its stake in Nasdaq by 4.6% in the fourth quarter. Manchester Capital Management LLC now owns 5,767 shares of the financial services provider’s stock worth $560,000 after buying an additional 252 shares in the last quarter. SouthState Bank Corp raised its stake in Nasdaq by 9.5% in the fourth quarter. SouthState Bank Corp now owns 2,021 shares of the financial services provider’s stock worth $196,000 after buying an additional 175 shares in the last quarter. Finally, Capital World Investors raised its stake in Nasdaq by 0.8% in the fourth quarter. Capital World Investors now owns 273,996 shares of the financial services provider’s stock worth $26,613,000 after buying an additional 2,064 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Raymond James Financial reissued an “outperform” rating and issued a $109.00 price objective on shares of Nasdaq in a research note on Wednesday, February 25th. TD Cowen raised Nasdaq from a “hold” rating to a “buy” rating and upped their price target for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. Finally, Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.15.
Nasdaq Stock Performance
Shares of NDAQ stock opened at $87.28 on Monday. The business’s fifty day simple moving average is $88.52 and its 200-day simple moving average is $90.09. The company has a market cap of $49.36 billion, a PE ratio of 26.29, a PEG ratio of 1.74 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12-month low of $77.09 and a 12-month high of $101.79.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. Analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.
Nasdaq Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s dividend payout ratio is presently 32.53%.
Insider Activity at Nasdaq
In other news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the sale, the executive vice president directly owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cohen Tal sold 15,518 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the sale, the insider directly owned 215,208 shares in the company, valued at $19,530,126. This trade represents a 6.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 138,162 shares of company stock valued at $11,932,913 over the last three months. 0.60% of the stock is owned by corporate insiders.
Nasdaq Profile
Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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