Bank of America Corp DE trimmed its holdings in shares of Nasdaq Inc (NASDAQ:NDAQ) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,063,835 shares of the financial services provider’s stock after selling 57,898 shares during the period. Bank of America Corp DE owned approximately 0.65% of Nasdaq worth $86,778,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Nasdaq by 1.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,022,974 shares of the financial services provider’s stock valued at $1,143,854,000 after buying an additional 193,126 shares in the last quarter. Vanguard Group Inc lifted its stake in Nasdaq by 0.6% in the third quarter. Vanguard Group Inc now owns 12,105,807 shares of the financial services provider’s stock valued at $1,038,679,000 after buying an additional 69,633 shares in the last quarter. Capital World Investors bought a new position in Nasdaq in the third quarter valued at approximately $333,215,000. Findlay Park Partners LLP lifted its stake in Nasdaq by 70.5% in the fourth quarter. Findlay Park Partners LLP now owns 1,875,000 shares of the financial services provider’s stock valued at $152,944,000 after buying an additional 775,000 shares in the last quarter. Finally, FMR LLC lifted its stake in Nasdaq by 0.5% in the third quarter. FMR LLC now owns 1,659,626 shares of the financial services provider’s stock valued at $142,396,000 after buying an additional 7,987 shares in the last quarter. 76.14% of the stock is owned by institutional investors.
In other news, insider Bradley J. Peterson sold 6,159 shares of the stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $85.48, for a total value of $526,471.32. Following the completion of the transaction, the insider now owns 39,482 shares of the company’s stock, valued at $3,374,921.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. Wittman sold 13,561 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $88.04, for a total value of $1,193,910.44. The disclosure for this sale can be found here. Insiders sold 21,059 shares of company stock worth $1,841,213 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.02. Nasdaq had a net margin of 10.71% and a return on equity of 14.53%. The business had revenue of $645.00 million for the quarter, compared to the consensus estimate of $642.95 million. During the same period in the prior year, the company posted $1.05 earnings per share. Nasdaq’s revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts expect that Nasdaq Inc will post 4.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 1.99%. Nasdaq’s dividend payout ratio (DPR) is presently 36.36%.
NDAQ has been the topic of a number of research reports. BidaskClub lowered shares of Nasdaq from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 27th. Zacks Investment Research lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. Argus initiated coverage on shares of Nasdaq in a research report on Wednesday, February 6th. They issued a “buy” rating and a $97.00 price objective on the stock. Raymond James cut their price objective on shares of Nasdaq from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 5th. Finally, ValuEngine downgraded shares of Nasdaq from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $96.43.
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Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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