Hsbc Holdings PLC Acquires 147,610 Shares of Nasdaq, Inc. $NDAQ

Hsbc Holdings PLC boosted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,074,625 shares of the financial services provider’s stock after purchasing an additional 147,610 shares during the quarter. Hsbc Holdings PLC’s holdings in Nasdaq were worth $96,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Nasdaq by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 55,800,000 shares of the financial services provider’s stock worth $4,989,636,000 after buying an additional 2,820,339 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Nasdaq by 33.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock valued at $2,438,897,000 after acquiring an additional 6,840,735 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nasdaq by 0.8% in the second quarter. Geode Capital Management LLC now owns 11,456,699 shares of the financial services provider’s stock worth $1,020,366,000 after purchasing an additional 89,391 shares during the last quarter. Harris Associates L P increased its position in shares of Nasdaq by 1.2% during the first quarter. Harris Associates L P now owns 8,693,469 shares of the financial services provider’s stock worth $659,487,000 after purchasing an additional 101,983 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Nasdaq by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 5,785,047 shares of the financial services provider’s stock worth $438,854,000 after purchasing an additional 484,750 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NDAQ shares. Raymond James Financial reissued an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Piper Sandler increased their price target on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Cowen restated a “hold” rating on shares of Nasdaq in a research note on Wednesday, October 22nd. Finally, TD Cowen increased their price objective on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average price target of $101.00.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total value of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. The trade was a 2.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Nasdaq Trading Up 1.0%

Shares of NDAQ stock opened at $90.85 on Friday. The stock’s fifty day moving average is $87.97 and its two-hundred day moving average is $89.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $51.87 billion, a P/E ratio of 32.45, a PEG ratio of 1.79 and a beta of 0.98. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued 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 1.2%. Nasdaq’s dividend payout ratio is currently 38.57%.

About Nasdaq

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.