Shapiro Capital Management LLC Sells 585,109 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Shapiro Capital Management LLC lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 34.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,096,835 shares of the financial services provider’s stock after selling 585,109 shares during the period. Nasdaq accounts for approximately 2.9% of Shapiro Capital Management LLC’s portfolio, making the stock its 17th largest holding. Shapiro Capital Management LLC owned approximately 0.19% of Nasdaq worth $84,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NDAQ. Norges Bank purchased a new stake in shares of Nasdaq in the fourth quarter worth $424,285,000. Ameriprise Financial Inc. raised its position in shares of Nasdaq by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider’s stock worth $464,676,000 after buying an additional 1,650,201 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Nasdaq in the fourth quarter worth $110,867,000. Raymond James Financial Inc. purchased a new stake in shares of Nasdaq in the fourth quarter worth $105,481,000. Finally, Franklin Resources Inc. raised its position in shares of Nasdaq by 13.4% in the fourth quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider’s stock worth $802,401,000 after buying an additional 1,225,672 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

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 value of $1,102,179.12. Following the completion of the transaction, the executive vice president now owns 59,694 shares in the company, valued at approximately $4,398,253.92. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bryan Everard Smith sold 657 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the completion of the transaction, the executive vice president now owns 61,980 shares of the company’s stock, valued at approximately $4,450,783.80. This trade represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Nasdaq Price Performance

Shares of NDAQ opened at $81.28 on Friday. Nasdaq, Inc. has a 1-year low of $58.28 and a 1-year high of $84.15. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market capitalization of $46.66 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. The company’s fifty day moving average price is $74.81 and its 200-day moving average price is $77.88.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly 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. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Nasdaq’s previous quarterly dividend of $0.24. Nasdaq’s dividend payout ratio is 49.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NDAQ shares. Citigroup lowered their price objective on Nasdaq from $84.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their target price on Nasdaq from $86.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Bank of America boosted their target price on Nasdaq from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Oppenheimer reduced their price target on Nasdaq from $89.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. boosted their price target on Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

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.