Lord Abbett & CO. LLC Sells 29,927 Shares of Nasdaq, Inc. $NDAQ

Lord Abbett & CO. LLC lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,654,190 shares of the financial services provider’s stock after selling 29,927 shares during the period. Lord Abbett & CO. LLC’s holdings in Nasdaq were worth $160,671,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SOA Wealth Advisors LLC. bought a new position in shares of Nasdaq during the 4th quarter valued at about $34,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the 4th quarter valued at about $35,000. Fideuram Asset Management Ireland dac bought a new position in shares of Nasdaq during the 4th quarter valued at about $37,000. Elyxium Wealth LLC bought a new position in shares of Nasdaq during the 4th quarter valued at about $44,000. Finally, Community Bank N.A. bought a new position in shares of Nasdaq during the 3rd quarter valued at about $45,000. Institutional investors own 72.47% of the company’s stock.

Analysts Set New Price Targets

NDAQ has been the topic of several recent analyst reports. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Barclays boosted their target price on Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Finally, Loop Capital set a $113.00 target price on Nasdaq in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned 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 a consensus price target of $107.36.

Insider Buying and Selling

In other Nasdaq news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adena T. Friedman sold 113,611 shares of the business’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 transaction, the chief executive officer directly owned 1,965,751 shares in the company, valued at $167,953,765.44. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 138,162 shares of company stock worth $11,932,913 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Nasdaq Trading Up 2.6%

NASDAQ NDAQ opened at $88.98 on Friday. The stock has a market capitalization of $50.32 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.73 and a beta of 0.97. The stock’s 50 day moving average price is $88.88 and its two-hundred day moving average price is $90.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. Nasdaq, Inc. has a 52 week low of $77.09 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, analysts anticipate that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.31 per share. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Nasdaq’s payout ratio is presently 32.53%.

Nasdaq Company Profile

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.