Keebeck Wealth Management Buys Shares of 29,752 Nasdaq, Inc. $NDAQ

Keebeck Wealth Management purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,752 shares of the financial services provider’s stock, valued at approximately $2,345,000.

A number of other hedge funds have also modified their holdings of NDAQ. MV Capital Management Inc. acquired a new stake in shares of Nasdaq during the 4th quarter worth about $28,000. Nemes Rush Group LLC acquired a new position in Nasdaq in the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. acquired a new position in Nasdaq in the fourth quarter valued at about $35,000. Fideuram Asset Management Ireland dac purchased a new position in Nasdaq during the fourth quarter worth about $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Nasdaq during the second quarter worth about $37,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Trading Up 0.7%

NASDAQ NDAQ opened at $98.22 on Friday. The firm has a 50 day simple moving average of $89.85 and a 200-day simple moving average of $88.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The firm has a market cap of $54.90 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.31 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Equities research analysts anticipate that Nasdaq, Inc. will post 4.15 EPS 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 paid a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s payout ratio is 36.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial reiterated an “outperform” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research report on Thursday, June 11th. Barclays reaffirmed an “overweight” rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Zacks Research raised Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Loop Capital set a $113.00 price target on Nasdaq in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $110.30.

Insider Transactions at Nasdaq

In other news, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the sale, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction dated 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 purchase, the insider owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is currently owned by company insiders.

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.