7,774 Shares in Nasdaq, Inc. $NDAQ Bought by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,774 shares of the financial services provider’s stock, valued at approximately $613,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Nasdaq during the 2nd quarter worth about $2,931,637,000. Norges Bank bought a new stake in shares of Nasdaq in the 4th quarter valued at about $530,100,000. Morgan Stanley raised its position in shares of Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock valued at $900,061,000 after acquiring an additional 3,567,843 shares during the period. Nuveen LLC raised its position in shares of Nasdaq by 82.0% in the 4th quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after acquiring an additional 2,736,322 shares during the period. Finally, Harris Associates L P boosted its stake in Nasdaq by 46.0% during the 4th quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock worth $837,425,000 after acquiring an additional 2,716,280 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

NASDAQ NDAQ opened at $98.22 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $54.90 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.32 and a beta of 0.97. The business has a 50 day simple moving average of $89.85 and a 200 day simple moving average of $88.04. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th 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 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is presently 36.15%.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several recent analyst reports. Barclays reaffirmed an “overweight” rating and issued a $111.00 target price (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Morgan Stanley reissued an “overweight” rating and set a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Friday, July 24th. TD Cowen restated a “buy” rating and issued a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Nasdaq currently has a consensus rating of “Buy” and an average target price of $110.30.

Insider Activity at Nasdaq

In related news, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the transaction, the insider directly owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ab Investor bought 56,782 shares of Nasdaq stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is owned by corporate insiders.

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.