Glenview Trust Co Invests $412,000 in Nasdaq, Inc. $NDAQ

Glenview Trust Co acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,227 shares of the financial services provider’s stock, valued at approximately $412,000.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Nasdaq during the second quarter valued at $2,931,637,000. Bank of America Corp DE purchased a new position in Nasdaq during the 2nd quarter valued at about $603,631,000. Norges Bank purchased a new position in Nasdaq during the 4th quarter valued at about $530,100,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Nasdaq in the second quarter worth approximately $377,818,000. Finally, Morgan Stanley lifted its position in shares of Nasdaq by 62.6% in the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after purchasing an additional 3,567,843 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 target price on shares of Nasdaq in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Keefe, Bruyette & Woods lifted their price target on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Barclays restated an “overweight” rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $110.30.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. This represents a 9.20% 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 purchased 56,782 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost 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 $5,024,603,103.84. The trade was a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is currently owned by insiders.

Nasdaq Stock Performance

NDAQ opened at $99.31 on Friday. 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 business has a fifty day simple moving average of $91.20 and a 200 day simple moving average of $88.40. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The company has a market capitalization of $55.51 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last released 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. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Nasdaq’s payout ratio is currently 36.15%.

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.