Morningstar Investment Management LLC Sells 6,301 Shares of Nasdaq, Inc. $NDAQ

Morningstar Investment Management LLC lowered its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 59.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,310 shares of the financial services provider’s stock after selling 6,301 shares during the quarter. Morningstar Investment Management LLC’s holdings in Nasdaq were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new stake in shares of Nasdaq during the 4th quarter valued at about $28,000. SOA Wealth Advisors LLC. acquired a new position in Nasdaq in the fourth quarter worth about $34,000. Nemes Rush Group LLC bought a new position in Nasdaq during the fourth quarter worth about $35,000. Uniplan Investment Counsel Inc. bought a new position in Nasdaq during the fourth quarter worth about $35,000. Finally, Fideuram Asset Management Ireland dac bought a new position in Nasdaq during the fourth quarter worth about $37,000. Institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

In other Nasdaq news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ab Investor bought 56,782 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the acquisition, the insider directly owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Key Headlines Impacting Nasdaq

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq delivered a solid Q2 beat on both earnings and revenue, with strong growth in index and FinTech driving better-than-expected results and record Market Services performance. Article Title
• Positive Sentiment: The company announced a quarterly dividend of $0.31 per share, which may appeal to income-focused investors and signals continued shareholder returns. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods lifted its price target to $102, indicating improved valuation expectations even though the rating remained market perform. Article Title
• Neutral Sentiment: Nasdaq’s July short-interest report showed 0 shares short and a 0.0-day days-to-cover figure, which appears more like a data anomaly than a meaningful trading signal. Article Title
• Neutral Sentiment: The company also ended its Miami case and sold its fund secondaries business, a portfolio move that may be viewed as strategic housekeeping rather than a major earnings driver. Article Title

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price objective on shares of Nasdaq in a research note on Friday. Loop Capital set a $113.00 target price on Nasdaq in a research report on Friday, April 24th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday. Raymond James Financial reiterated an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Finally, TD Cowen reiterated a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $109.73.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $92.09 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.43 and a beta of 0.99. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The firm’s 50-day moving average price is $87.43 and its two-hundred day moving average price is $88.45.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data 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 net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts predict that Nasdaq, Inc. will post 4.03 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

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

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.