Hsbc Holdings PLC Sells 46,079 Shares of Nasdaq, Inc. $NDAQ

Hsbc Holdings PLC trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,225,879 shares of the financial services provider’s stock after selling 46,079 shares during the quarter. Hsbc Holdings PLC’s holdings in Nasdaq were worth $119,255,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in Nasdaq by 1.6% during the fourth quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock valued at $277,329,000 after purchasing an additional 45,783 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Nasdaq by 27.5% in the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock worth $5,933,000 after buying an additional 13,160 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Nasdaq in the fourth quarter worth $1,245,000. Advisors Preferred LLC bought a new stake in shares of Nasdaq during the 4th quarter worth $4,872,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Nasdaq by 129.2% during the 3rd quarter. Intech Investment Management LLC now owns 55,134 shares of the financial services provider’s stock worth $4,877,000 after buying an additional 31,081 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $82.24 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. Nasdaq, Inc. has a one year low of $77.09 and a one year high of $101.79. The company has a fifty day moving average price of $88.72 and a 200 day moving average price of $89.96. The stock has a market cap of $46.51 billion, a P/E ratio of 24.77, a PEG ratio of 1.64 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $0.79 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Analysts anticipate that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.31 dividend. The ex-dividend date is Friday, June 12th. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. Nasdaq’s dividend payout ratio is 37.35%.

Analyst Ratings Changes

Several brokerages recently commented on NDAQ. Raymond James Financial reiterated an “outperform” rating and issued a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research report on Thursday, June 11th. TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $106.00 in a research note on Thursday, February 26th. Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.36.

Insiders Place Their Bets

In other Nasdaq news, CEO Adena T. Friedman sold 113,611 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total value of $9,706,923.84. Following the completion of the transaction, the chief executive officer owned 1,965,751 shares of the company’s stock, valued at $167,953,765.44. This represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michelle Lynn Daly sold 1,323 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president directly owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,162 shares of company stock valued at $11,932,913 in the last quarter. 0.60% of the stock is currently owned by insiders.

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.