Nasdaq, Inc. (NASDAQ:NDAQ) to Issue Quarterly Dividend of $0.24

Nasdaq, Inc. (NASDAQ:NDAQ) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.24 per share by the financial services provider on Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.22.

Nasdaq has raised its dividend by an average of 10.0% annually over the last three years and has increased its dividend every year for the last 12 years. Nasdaq has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nasdaq to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.4%.

Nasdaq Stock Down 2.0 %

Shares of NASDAQ NDAQ opened at $60.29 on Friday. The company has a 50 day simple moving average of $59.84 and a 200-day simple moving average of $56.39. The company has a market capitalization of $34.68 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.01 and a quick ratio of 1.01. Nasdaq has a 1 year low of $46.88 and a 1 year high of $64.25.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 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 19.28% and a net margin of 17.48%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. On average, equities research analysts predict that Nasdaq will post 2.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of a number of recent research reports. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Citigroup upped their price objective on shares of Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Rosenblatt Securities reduced their price objective on shares of Nasdaq from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday. 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 research note on Wednesday, January 24th. Finally, Piper Sandler increased their price target on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $66.55.

Insider Buying and Selling at Nasdaq

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

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.