VCI Wealth Management LLC Trims Position in Nasdaq, Inc. $NDAQ

VCI Wealth Management LLC decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 43.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,940 shares of the financial services provider’s stock after selling 10,052 shares during the quarter. VCI Wealth Management LLC’s holdings in Nasdaq were worth $1,098,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Nasdaq by 1.6% during the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock valued at $277,329,000 after purchasing an additional 45,783 shares during the last quarter. M&T Bank Corp boosted its stake in Nasdaq by 27.5% during the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock valued at $5,933,000 after buying an additional 13,160 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Nasdaq during the 4th quarter valued at approximately $1,245,000. Advisors Preferred LLC bought a new stake in Nasdaq in the 4th quarter worth approximately $4,872,000. Finally, Intech Investment Management LLC boosted its position in shares of Nasdaq by 129.2% during the 3rd quarter. Intech Investment Management LLC now owns 55,134 shares of the financial services provider’s stock valued at $4,877,000 after acquiring an additional 31,081 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Ab Investor bought 56,782 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the senior vice president directly owned 10,089 shares in the company, valued at $896,104.98. This trade represents a 11.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 138,162 shares of company stock worth $11,932,913. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NDAQ shares. Barclays boosted their price target on shares of Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. TD Cowen reduced their target price on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a report on Thursday, June 11th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.79.

Nasdaq Trading Up 1.2%

Shares of NASDAQ NDAQ opened at $78.56 on Friday. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month high of $101.79. The firm has a market cap of $44.43 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97. The business has a fifty day simple moving average of $88.21 and a two-hundred day simple moving average of $89.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last announced 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 for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. Analysts expect that Nasdaq, Inc. will post 3.87 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.31 per share. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.6%. Nasdaq’s payout ratio is 37.35%.

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.