Cornerstone Wealth Group LLC Has $362,000 Stock Position in Nasdaq, Inc. $NDAQ

Cornerstone Wealth Group LLC grew its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 30.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,043 shares of the financial services provider’s stock after buying an additional 935 shares during the period. Cornerstone Wealth Group LLC’s holdings in Nasdaq were worth $362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NDAQ. Nuveen LLC acquired a new position in shares of Nasdaq in the 1st quarter valued at $241,614,000. Invesco Ltd. grew its holdings in shares of Nasdaq by 40.8% in the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after buying an additional 1,592,057 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Nasdaq by 5.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock valued at $1,550,115,000 after buying an additional 993,553 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Nasdaq by 104.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock valued at $125,574,000 after buying an additional 845,725 shares during the period. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Nasdaq by 2,462.5% in the 1st quarter. Jefferies Financial Group Inc. now owns 788,249 shares of the financial services provider’s stock valued at $59,797,000 after buying an additional 757,488 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Trading Up 0.2%

Shares of NASDAQ:NDAQ opened at $89.54 on Wednesday. The company’s 50-day moving average price is $92.39 and its two-hundred day moving average price is $86.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The stock has a market capitalization of $51.38 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq’s payout ratio is 41.54%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $101.00 target price (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nasdaq from $97.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and an average price target of $97.50.

Insider Activity

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares of the company’s stock, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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.