LGT Fund Management Co Ltd. Reduces Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

LGT Fund Management Co Ltd. decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,480 shares of the financial services provider’s stock after selling 840 shares during the period. LGT Fund Management Co Ltd.’s holdings in Nasdaq were worth $1,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NDAQ. Nuveen LLC purchased a new stake in Nasdaq during the 1st quarter worth $241,614,000. Ameriprise Financial Inc. grew its holdings in Nasdaq by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider’s stock worth $464,676,000 after acquiring an additional 1,650,201 shares in the last quarter. Invesco Ltd. grew its holdings in Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after acquiring an additional 1,592,057 shares in the last quarter. GAMMA Investing LLC grew its holdings in Nasdaq by 7,367.6% during the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider’s stock worth $85,671,000 after acquiring an additional 1,114,205 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Nasdaq by 5.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock worth $1,550,115,000 after acquiring an additional 993,553 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Keefe, Bruyette & Woods lifted their price target on shares of Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Piper Sandler lifted their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.06.

Nasdaq Stock Up 0.1%

NASDAQ NDAQ opened at $96.94 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50 day simple moving average is $89.93 and its 200 day simple moving average is $81.99. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a market capitalization of $55.62 billion, a P/E ratio of 37.28, a PEG ratio of 2.13 and a beta of 1.00.

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

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Nasdaq’s payout ratio is currently 41.54%.

Insider Activity

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares in the company, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,409 shares of company stock worth $2,887,839 over the last three months. 0.70% of the stock is 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.