Diversify Advisory Services LLC Buys Shares of 9,648 Nasdaq, Inc. $NDAQ

Diversify Advisory Services LLC bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,648 shares of the financial services provider’s stock, valued at approximately $906,000.

A number of other large investors have also made changes to their positions in NDAQ. Investmark Advisory Group LLC purchased a new stake in shares of Nasdaq during the 2nd quarter valued at about $664,000. Wealthfront Advisers LLC bought a new stake in Nasdaq during the second quarter valued at approximately $3,081,000. First National Bank of Omaha bought a new stake in Nasdaq during the second quarter valued at approximately $2,062,000. Meeder Advisory Services Inc. purchased a new stake in Nasdaq during the second quarter valued at approximately $461,000. Finally, Citizens Financial Group Inc. RI bought a new position in Nasdaq in the second quarter worth approximately $554,000. 72.47% of the stock is currently owned by institutional investors.

Insider Activity

In other Nasdaq news, major shareholder Ab Investor bought 56,782 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the transaction, the insider owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. This trade represents a 5.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,797 shares of company stock worth $3,926,319 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Stock Performance

NDAQ opened at $96.35 on Thursday. The company has a 50 day simple moving average of $89.45 and a two-hundred day simple moving average of $87.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $53.86 billion, a P/E ratio of 28.09, a PEG ratio of 1.30 and a beta of 0.97. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm earned $0.85 EPS. The company’s revenue was up 14.9% on a year-over-year basis. Equities analysts forecast that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is currently 36.15%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NDAQ shares. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Keefe, Bruyette & Woods raised their target price on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research report on Thursday, June 11th. Raymond James Financial reissued an “outperform” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Nasdaq currently has a consensus rating of “Buy” and a consensus target price of $110.30.

Nasdaq 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.