Pictet Asset Management Holding SA Has $23.32 Million Holdings in Nasdaq, Inc. $NDAQ

Pictet Asset Management Holding SA cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,810 shares of the financial services provider’s stock after selling 25,689 shares during the period. Pictet Asset Management Holding SA’s holdings in Nasdaq were worth $23,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of NDAQ. Empowered Funds LLC raised its position in Nasdaq by 3.8% in the 1st quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 538 shares during the last quarter. Woodline Partners LP increased its stake in shares of Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after buying an additional 10,110 shares during the period. Focus Partners Wealth raised its position in shares of Nasdaq by 22.0% during the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after acquiring an additional 2,584 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Nasdaq by 345.5% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 463 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in Nasdaq by 4.4% in the second quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 481 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $82.73 on Thursday. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a market cap of $46.79 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $87.67 and its 200 day simple moving average is $89.38.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly 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 during 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 period in the prior year, the firm posted $0.79 earnings per share. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 3.87 EPS for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. Nasdaq’s dividend payout ratio is presently 37.35%.

Insider Activity

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the stock in a transaction 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 sale, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the transaction, the executive vice president directly owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. This trade represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,551 shares of company stock valued at $2,225,990. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on NDAQ shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research note on Thursday, June 11th. TD Cowen reduced their price target on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.54.

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.