Ledyard National Bank Makes New Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Ledyard National Bank acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,324 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other large investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its stake in shares of Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Nasdaq in the 2nd quarter valued at approximately $26,000. Salem Investment Counselors Inc. raised its holdings in Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after buying an additional 201 shares during the last quarter. Crewe Advisors LLC raised its holdings in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after buying an additional 314 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Nasdaq in the 1st quarter valued at approximately $31,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Down 0.0 %

Shares of NASDAQ NDAQ opened at $74.29 on Wednesday. Nasdaq, Inc. has a 12 month low of $47.56 and a 12 month high of $74.93. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $42.73 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.99 and a beta of 0.95. The business has a 50-day moving average of $72.15 and a 200-day moving average of $65.38.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. Nasdaq’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Sell-side analysts expect that Nasdaq, Inc. will post 2.75 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, September 13th. Nasdaq’s dividend payout ratio is currently 50.53%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NDAQ shares. TD Cowen initiated coverage on shares of Nasdaq in a report on Thursday, September 26th. They issued a “hold” rating and a $83.00 price objective for the company. Piper Sandler lifted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their price objective on shares of Nasdaq from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Bank of America reduced their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.

Insiders Place Their Bets

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the sale, the insider now owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by insiders.

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.