Penobscot Investment Management Company Inc. Boosts Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Penobscot Investment Management Company Inc. raised its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,093 shares of the financial services provider’s stock after purchasing an additional 1,920 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Nasdaq were worth $2,966,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Grove Bank & Trust increased its stake in Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 216 shares in the last quarter. Highline Wealth Partners LLC increased its stake in Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 317 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Nasdaq during the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Nasdaq during the 1st quarter valued at approximately $26,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Nasdaq during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Down 0.1%

NDAQ stock opened at $88.05 on Thursday. The firm has a market cap of $50.55 billion, a PE ratio of 40.02, a P/E/G ratio of 2.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s fifty day moving average is $81.21 and its 200 day moving average is $78.90. Nasdaq, Inc. has a one year low of $59.44 and a one year high of $88.78.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. On average, research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, June 13th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.24. Nasdaq’s dividend payout ratio (DPR) is currently 49.09%.

Analyst Ratings Changes

NDAQ has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Nasdaq from $87.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Barclays cut their price objective on shares of Nasdaq from $86.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. UBS Group reiterated a “cautious” rating on shares of Nasdaq in a research note on Monday, April 28th. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective on the stock. in a research note on Tuesday, April 8th. Finally, Bank of America increased their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.19.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider now directly owns 211,405 shares of the company’s stock, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 657 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $71.81, for a total transaction of $47,179.17. Following the transaction, the executive vice president now directly owns 61,980 shares in the company, valued at approximately $4,450,783.80. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.