New World Advisors LLC Raises Position in Nasdaq, Inc. (NASDAQ:NDAQ)

New World Advisors LLC increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 12.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,539 shares of the financial services provider’s stock after purchasing an additional 504 shares during the quarter. New World Advisors LLC’s holdings in Nasdaq were worth $344,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Atria Wealth Solutions Inc. grew its position in Nasdaq by 94.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 6,030 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 2,936 shares in the last quarter. Howard Capital Management Inc. purchased a new position in shares of Nasdaq in the fourth quarter valued at $208,000. Crestwood Advisors Group LLC boosted its stake in shares of Nasdaq by 4.1% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 152 shares during the period. Bank of New York Mellon Corp grew its holdings in Nasdaq by 29.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,305,975 shares of the financial services provider’s stock valued at $255,585,000 after purchasing an additional 748,486 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Nasdaq by 0.5% during the 4th quarter. Amalgamated Bank now owns 81,669 shares of the financial services provider’s stock worth $6,314,000 after buying an additional 430 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

Nasdaq stock opened at $88.05 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. Nasdaq, Inc. has a 12 month low of $59.44 and a 12 month high of $88.78. The company has a fifty day moving average price of $81.21 and a two-hundred day moving average price of $78.90. The company has a market cap of $50.55 billion, a PE ratio of 40.02, a P/E/G ratio of 2.27 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.27 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, June 13th. Nasdaq’s dividend payout ratio is presently 49.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NDAQ shares. Barclays decreased their price objective on shares of Nasdaq from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Bank of America boosted their price target on Nasdaq from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Redburn Atlantic upgraded Nasdaq from a “neutral” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Thursday, April 17th. Finally, Oppenheimer set a $96.00 target price on Nasdaq and gave the company an “outperform” rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and a consensus target price of $87.19.

Insiders Place Their Bets

In other news, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider now owns 211,405 shares of the company’s stock, valued at approximately $17,552,957.15. The trade was a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the transaction, the executive vice president now owns 61,980 shares of the company’s stock, valued at approximately $4,450,783.80. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

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.