Crestmont Private Wealth LLC Boosts Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Crestmont Private Wealth LLC lifted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,182 shares of the financial services provider’s stock after acquiring an additional 1,165 shares during the quarter. Nasdaq makes up 0.3% of Crestmont Private Wealth LLC’s portfolio, making the stock its 26th biggest position. Crestmont Private Wealth LLC’s holdings in Nasdaq were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NDAQ. Vanguard Group Inc. increased its position in Nasdaq by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider’s stock valued at $4,064,682,000 after purchasing an additional 376,893 shares during the period. Geode Capital Management LLC lifted its position in shares of Nasdaq by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 11,018,705 shares of the financial services provider’s stock worth $849,783,000 after purchasing an additional 257,465 shares during the period. Franklin Resources Inc. boosted its stake in shares of Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider’s stock valued at $802,401,000 after purchasing an additional 1,225,672 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Nasdaq by 5.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider’s stock valued at $537,640,000 after purchasing an additional 335,565 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Nasdaq by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider’s stock valued at $464,676,000 after purchasing an additional 1,650,201 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity

In other Nasdaq news, EVP Sarah Youngwood sold 14,959 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $73.68, for a total value of $1,102,179.12. Following the transaction, the executive vice president now owns 59,694 shares of the company’s stock, valued at approximately $4,398,253.92. This represents a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the transaction, the executive vice president now directly owns 61,980 shares in the company, valued at $4,450,783.80. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,616 shares of company stock valued at $1,813,598 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Morgan Stanley cut shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 target price on the stock. in a report on Tuesday, April 8th. Piper Sandler upped their target price on shares of Nasdaq from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. Citigroup decreased their price target on shares of Nasdaq from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays lowered their price target on shares of Nasdaq from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Nasdaq has an average rating of “Moderate Buy” and an average target price of $86.50.

Nasdaq Stock Up 0.6%

NASDAQ:NDAQ opened at $84.00 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $48.23 billion, a P/E ratio of 43.75, a P/E/G ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a fifty-two week low of $58.28 and a fifty-two week high of $84.15. The firm has a 50-day simple moving average of $76.51 and a two-hundred day simple moving average of $78.32.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, June 13th. This represents a $1.08 annualized dividend and a yield of 1.29%. This is a boost from Nasdaq’s previous quarterly dividend of $0.24. Nasdaq’s dividend payout ratio is currently 49.09%.

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.