Penobscot Investment Management Company Inc. Purchases 1,180 Shares of Nasdaq, Inc. $NDAQ

Penobscot Investment Management Company Inc. lifted its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.0% during the 2nd quarter, Holdings Channel reports. The firm owned 40,273 shares of the financial services provider’s stock after acquiring an additional 1,180 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Nasdaq were worth $3,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NDAQ. Nuveen LLC bought a new position in shares of Nasdaq in the first quarter worth approximately $241,614,000. Invesco Ltd. grew its holdings in shares of Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after purchasing an additional 1,592,057 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Nasdaq by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock worth $1,550,115,000 after purchasing an additional 993,553 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Nasdaq by 104.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock worth $125,574,000 after purchasing an additional 845,725 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Nasdaq by 2,462.5% in the first quarter. Jefferies Financial Group Inc. now owns 788,249 shares of the financial services provider’s stock worth $59,797,000 after purchasing an additional 757,488 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling at Nasdaq

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the transaction, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $87.61 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $50.27 billion, a P/E ratio of 33.70, a P/E/G ratio of 1.99 and a beta of 0.98. The business has a fifty day simple moving average of $93.31 and a two-hundred day simple moving average of $85.45. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is currently 41.54%.

Wall Street Analyst Weigh In

NDAQ has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Nasdaq from $97.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Barclays raised their price target on Nasdaq from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Morgan Stanley set a $90.00 price target on Nasdaq and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and an average price target of $97.31.

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.