Eventide Asset Management LLC increased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707,048 shares of the financial services provider’s stock after acquiring an additional 32,406 shares during the quarter. Nasdaq comprises approximately 1.1% of Eventide Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Eventide Asset Management LLC owned about 0.12% of Nasdaq worth $68,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in Nasdaq by 7.8% during the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 111 shares in the last quarter. ORG Wealth Partners LLC grew its position in Nasdaq by 6.9% during the 4th quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 112 shares during the last quarter. Independent Advisor Alliance grew its position in Nasdaq by 2.6% during the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 117 shares during the last quarter. Orgel Wealth Management LLC grew its position in Nasdaq by 4.7% during the 4th quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 118 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in Nasdaq by 1.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock worth $831,000 after purchasing an additional 128 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Nasdaq Stock Up 2.6%
NDAQ stock opened at $88.98 on Friday. Nasdaq, Inc. has a one year low of $77.09 and a one year high of $101.79. The stock has a market capitalization of $50.32 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day moving average of $88.88 and a 200-day moving average of $90.10.
Nasdaq Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.31 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Nasdaq’s dividend payout ratio (DPR) is 32.53%.
Insider Activity
In related news, EVP Bradley J. Peterson sold 7,710 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the sale, the executive vice president owned 141,035 shares in the company, valued at $12,808,798.70. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adena T. Friedman sold 113,611 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the completion of the sale, the chief executive officer owned 1,965,751 shares of the company’s stock, valued at $167,953,765.44. This trade represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 138,162 shares of company stock worth $11,932,913 over the last quarter. Insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Loop Capital set a $113.00 price objective on shares of Nasdaq in a research report on Friday, April 24th. TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research report on Thursday. Keefe, Bruyette & Woods raised their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Barclays raised their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.36.
Read Our Latest Stock Analysis on NDAQ
About Nasdaq
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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