Wellington Management Group LLP Decreases Stock Position in Nasdaq, Inc. $NDAQ

Wellington Management Group LLP reduced its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 16.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,332,286 shares of the financial services provider’s stock after selling 5,946,692 shares during the quarter. Wellington Management Group LLP owned 5.43% of Nasdaq worth $2,390,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Nasdaq in the 2nd quarter worth $2,789,000. Kingsview Wealth Management LLC purchased a new position in shares of Nasdaq during the 2nd quarter worth $216,000. Beacon Pointe Advisors LLC bought a new stake in shares of Nasdaq during the 2nd quarter valued at $365,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Nasdaq in the 2nd quarter worth $301,000. Finally, Rakuten Investment Management Inc. purchased a new stake in Nasdaq in the second quarter worth about $5,651,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In related news, insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the sale, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ab Investor acquired 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the transaction, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 41,797 shares of company stock valued at $3,926,319. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NDAQ. TD Cowen restated a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research report on Thursday, June 11th. Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $110.30.

Nasdaq Trading Down 0.0%

Shares of NDAQ opened at $99.31 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $55.51 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.32 and a beta of 0.97. The company has a 50-day moving average of $91.20 and a 200 day moving average of $88.40. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.Nasdaq’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Nasdaq’s dividend payout ratio is presently 36.15%.

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.