Truist Financial Corp Decreases Stock Holdings in Nasdaq, Inc. $NDAQ

Truist Financial Corp decreased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 8.1% during the second quarter, Holdings Channel reports. The firm owned 391,129 shares of the financial services provider’s stock after selling 34,268 shares during the quarter. Truist Financial Corp’s holdings in Nasdaq were worth $34,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its stake in shares of Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after buying an additional 120 shares during the last quarter. Grove Bank & Trust increased its holdings in Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $25,000 after buying an additional 216 shares during the last quarter. Highline Wealth Partners LLC raised its position in Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 317 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Nasdaq during the 1st quarter worth $26,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Nasdaq in the 1st quarter worth $30,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. The trade was a 49.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares in the company, valued at approximately $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. 0.70% of the stock is owned by insiders.

Nasdaq Trading Up 0.5%

NDAQ stock opened at $87.34 on Friday. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The stock has a market capitalization of $50.11 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm’s fifty day simple moving average is $93.46 and its two-hundred day simple moving average is $85.37.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.69 EPS. Nasdaq’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors 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 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is presently 41.54%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NDAQ shares. The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Oppenheimer reaffirmed an “outperform” rating and set a $101.00 price target (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Barclays increased their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Citigroup restated a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, UBS Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.