AMJ Financial Wealth Management Sells 62,989 Shares of Nasdaq, Inc. $NDAQ

AMJ Financial Wealth Management trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 47.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,106 shares of the financial services provider’s stock after selling 62,989 shares during the quarter. Nasdaq accounts for approximately 1.6% of AMJ Financial Wealth Management’s holdings, making the stock its 28th largest position. AMJ Financial Wealth Management’s holdings in Nasdaq were worth $6,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Nasdaq by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock worth $5,819,727,000 after purchasing an additional 268,481 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Nasdaq by 4.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock valued at $2,683,485,000 after acquiring an additional 1,258,964 shares during the period. State Street Corp raised its holdings in Nasdaq by 7.7% during the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock valued at $1,735,318,000 after acquiring an additional 1,404,348 shares during the period. Invesco Ltd. raised its holdings in Nasdaq by 11.8% during the third quarter. Invesco Ltd. now owns 5,044,521 shares of the financial services provider’s stock valued at $446,188,000 after acquiring an additional 532,775 shares during the period. Finally, Northern Trust Corp raised its holdings in Nasdaq by 2.9% during the third quarter. Northern Trust Corp now owns 4,198,608 shares of the financial services provider’s stock valued at $371,367,000 after acquiring an additional 116,542 shares during the period. 72.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

NDAQ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on Nasdaq from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Morgan Stanley set a $116.00 price target on Nasdaq and gave the company an “overweight” rating in a report on Friday, January 30th. TD Cowen raised Nasdaq from a “hold” rating to a “buy” rating and raised their price target for the company from $105.00 to $106.00 in a report on Thursday, February 26th. Argus raised Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average target price of $107.15.

Nasdaq Trading Up 0.1%

Shares of Nasdaq stock opened at $91.06 on Friday. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.85 and a beta of 0.98. The business has a 50-day moving average price of $87.26 and a 200-day moving average price of $89.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month 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 for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. Equities research analysts anticipate that Nasdaq, Inc. will post 3.86 EPS for the current fiscal year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Nasdaq’s dividend payout ratio (DPR) is 32.53%.

Insider Buying and Selling

In related news, CEO Adena T. Friedman sold 113,611 shares of Nasdaq stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total value of $9,706,923.84. Following the completion of the transaction, the chief executive officer owned 1,965,751 shares in the company, valued at approximately $167,953,765.44. This trade represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michelle Lynn Daly sold 1,323 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the sale, the senior vice president owned 10,089 shares in the company, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 231,002 shares of company stock worth $20,295,941. Insiders own 0.60% of the company’s stock.

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.