Strs Ohio Cuts Holdings in Nasdaq, Inc. $NDAQ

Strs Ohio cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 8.2% during the first quarter, Holdings Channel reports. The institutional investor owned 651,531 shares of the financial services provider’s stock after selling 58,416 shares during the quarter. Strs Ohio’s holdings in Nasdaq were worth $55,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Legal & General Group Plc lifted its position in shares of Nasdaq by 1.6% during the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock valued at $277,329,000 after acquiring an additional 45,783 shares during the period. M&T Bank Corp increased its stake in Nasdaq by 27.5% in the 4th quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock valued at $5,933,000 after purchasing an additional 13,160 shares in the last quarter. AlphaCore Capital LLC purchased a new position in Nasdaq in the 4th quarter valued at approximately $1,245,000. Advisors Preferred LLC acquired a new position in Nasdaq during the fourth quarter worth $4,872,000. Finally, MKP Capital Management L.L.C. acquired a new position in Nasdaq during the fourth quarter worth $33,996,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity

In other news, major shareholder Ab Investor acquired 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the transaction, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cohen Tal sold 15,518 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 215,208 shares in the company, valued at $19,530,126. The trade was a 6.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,551 shares of company stock valued at $2,225,990 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on NDAQ shares. Loop Capital set a $113.00 target price on Nasdaq in a report on Friday, April 24th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. TD Cowen decreased their price objective on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Barclays increased their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.54.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $84.66 on Friday. The business’s fifty day moving average price is $87.61 and its two-hundred day moving average price is $89.32. The stock has a market cap of $47.88 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79.

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

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio is 37.35%.

Nasdaq Company 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.