M&T Bank Corp Raises Position in Nasdaq, Inc. $NDAQ

M&T Bank Corp grew its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 27.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 61,076 shares of the financial services provider’s stock after purchasing an additional 13,160 shares during the quarter. M&T Bank Corp’s holdings in Nasdaq were worth $5,933,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. NBC Securities Inc. raised its holdings in Nasdaq by 7.8% in the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock worth $149,000 after buying an additional 111 shares during the last quarter. ORG Wealth Partners LLC raised its holdings in Nasdaq by 6.9% in the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after buying an additional 112 shares during the last quarter. Orgel Wealth Management LLC raised its holdings in Nasdaq by 4.7% in the fourth quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock worth $255,000 after buying an additional 118 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in Nasdaq by 1.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock worth $831,000 after buying an additional 128 shares during the last quarter. Finally, Equitable Holdings Inc. raised its holdings in Nasdaq by 2.2% in the third quarter. Equitable Holdings Inc. now owns 7,237 shares of the financial services provider’s stock worth $640,000 after buying an additional 157 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the sale, the senior vice president directly owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. This represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adena T. Friedman sold 113,611 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the sale, the chief executive officer directly owned 1,965,751 shares of the company’s stock, valued at approximately $167,953,765.44. This represents a 5.46% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 231,002 shares of company stock valued at $20,295,941. 0.60% of the stock is owned by corporate insiders.

Nasdaq Stock Down 2.5%

NDAQ opened at $89.00 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $86.63 and a 200-day moving average price of $89.65. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month high of $101.79. The stock has a market capitalization of $50.33 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.86 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Equities research analysts forecast that Nasdaq, Inc. will post 3.86 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 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Nasdaq’s dividend payout ratio is presently 32.53%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NDAQ. Raymond James Financial reaffirmed an “outperform” rating and issued a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. Argus raised shares of Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.15.

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.