Nasdaq, Inc. (NASDAQ:NDAQ) Stake Reduced by First Manhattan CO. LLC.

First Manhattan CO. LLC. lowered its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,519 shares of the financial services provider’s stock after selling 2,982 shares during the period. First Manhattan CO. LLC.’s holdings in Nasdaq were worth $7,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NDAQ. Rakuten Securities Inc. bought a new position in shares of Nasdaq in the fourth quarter valued at $26,000. Founders Capital Management acquired a new position in shares of Nasdaq in the 4th quarter worth $27,000. Kestra Investment Management LLC acquired a new stake in shares of Nasdaq during the fourth quarter worth $33,000. Raleigh Capital Management Inc. lifted its holdings in shares of Nasdaq by 106.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 225 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Nasdaq in the 4th quarter valued at $37,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Up 0.3 %

Nasdaq stock opened at $79.20 on Friday. The company has a market capitalization of $45.47 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a 1-year low of $58.28 and a 1-year high of $84.15. The firm’s fifty day simple moving average is $74.36 and its 200-day simple moving average is $77.70. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

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, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts forecast that Nasdaq, Inc. will post 3.18 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 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Nasdaq’s previous quarterly dividend of $0.24. Nasdaq’s dividend payout ratio (DPR) is 49.09%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NDAQ shares. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective for the company. in a research note on Tuesday, April 8th. Redburn Atlantic upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Thursday, April 17th. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Nasdaq in a report on Thursday, April 10th. Finally, Citigroup lowered their price target on Nasdaq from $84.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Insider Activity

In other Nasdaq news, EVP Sarah Youngwood sold 14,959 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the sale, the executive vice president now directly owns 59,694 shares in the company, valued at $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 is available at the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of Nasdaq 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 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 own 0.70% of the company’s stock.

Nasdaq Company 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.