First American Bank Purchases 1,828 Shares of Nasdaq, Inc. $NDAQ

First American Bank lifted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,446 shares of the financial services provider’s stock after purchasing an additional 1,828 shares during the quarter. First American Bank’s holdings in Nasdaq were worth $3,080,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Nasdaq during the first quarter worth $241,614,000. Invesco Ltd. raised its holdings in shares of Nasdaq by 40.8% during the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after acquiring an additional 1,592,057 shares during the period. GAMMA Investing LLC increased its stake in Nasdaq by 7,367.6% in the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider’s stock valued at $85,671,000 after buying an additional 1,114,205 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 last quarter. Finally, Lord Abbett & CO. LLC increased its stake in 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 last quarter. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $87.51 on Friday. The company has a market capitalization of $50.21 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 1.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50-day simple moving average of $93.63 and a 200 day simple moving average of $84.97. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63.

Nasdaq (NASDAQ:NDAQ) last announced its 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. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. Nasdaq’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued 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 dividend yield of 1.2%. Nasdaq’s payout ratio is presently 41.54%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NDAQ shares. Royal Bank Of Canada lifted their price target on shares of Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Oppenheimer reiterated an “outperform” rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Raymond James Financial restated an “outperform” rating and set a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, Barclays boosted their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $97.06.

Insider Buying and Selling

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the business’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 completion of the sale, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. The trade was a 49.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the sale, the executive vice president directly owned 111,035 shares of the company’s stock, valued at $9,867,680.45. This represents a 9.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,409 shares of company stock valued at $2,223,599. Company insiders own 0.70% of the company’s stock.

Nasdaq 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.