VCI Wealth Management LLC Cuts Stock Position in Nasdaq, Inc. $NDAQ

VCI Wealth Management LLC decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 43.7% in the first quarter, HoldingsChannel reports. The fund owned 12,940 shares of the financial services provider’s stock after selling 10,052 shares during the quarter. VCI Wealth Management LLC’s holdings in Nasdaq were worth $1,098,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NDAQ. MV Capital Management Inc. acquired a new position in shares of Nasdaq during the fourth quarter worth $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Nasdaq in the 4th quarter worth $34,000. Nemes Rush Group LLC purchased a new position in Nasdaq during the 4th quarter worth $35,000. Uniplan Investment Counsel Inc. purchased a new position in Nasdaq during the 4th quarter worth $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in Nasdaq during the 4th quarter valued at about $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $78.56 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $44.43 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97. The business’s fifty day simple moving average is $88.21 and its 200-day simple moving average is $89.65. Nasdaq, Inc. has a 52 week low of $77.09 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. Nasdaq’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. Equities analysts forecast that Nasdaq, Inc. will post 3.87 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.31 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, June 12th. Nasdaq’s payout ratio is presently 37.35%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NDAQ. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Barclays lifted their target price 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. Loop Capital set a $113.00 price objective on shares of Nasdaq in a research note on Friday, April 24th. Finally, TD Cowen decreased their target price on Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.79.

Insider Buying and Selling at Nasdaq

In other news, EVP Bradley J. Peterson sold 7,710 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the sale, the executive vice president directly owned 141,035 shares in the company, valued at $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cohen Tal sold 15,518 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 215,208 shares in the company, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 138,162 shares of company stock worth $11,932,913. Corporate insiders own 0.60% of the company’s stock.

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.