Pinnacle Wealth Planning Services Inc. Takes $212,000 Position in Nasdaq, Inc. $NDAQ

Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,373 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NDAQ. Leavell Investment Management Inc. grew its holdings in Nasdaq by 0.4% in the second quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 116 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. Fielder Capital Group LLC boosted its position in shares of Nasdaq by 3.0% in the 2nd quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 122 shares in the last quarter. Freedom Investment Management Inc. grew its stake in Nasdaq by 2.3% during the 2nd quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock worth $508,000 after buying an additional 128 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in Nasdaq by 3.4% during the 2nd quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock valued at $355,000 after buying an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.6%

NDAQ stock opened at $86.02 on Thursday. The company has a market capitalization of $49.12 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 1.79 and a beta of 0.98. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The firm’s fifty day simple moving average is $88.44 and its 200-day simple moving average is $88.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is presently 38.57%.

Analyst Ratings Changes

NDAQ has been the subject of several recent analyst reports. Piper Sandler raised their price target on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Cowen reiterated a “hold” rating on shares of Nasdaq in a research note on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a research note on Thursday, October 9th. Morgan Stanley set a $90.00 price objective on shares of Nasdaq and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $99.67.

Insider Activity

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the sale, the executive vice president owned 84,974 shares in the company, valued at $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Nasdaq Company Profile

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.