Hennion & Walsh Asset Management Inc. Reduces Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Hennion & Walsh Asset Management Inc. reduced its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,775 shares of the financial services provider’s stock after selling 346 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Nasdaq were worth $680,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. boosted its holdings in shares of Nasdaq by 89.3% in the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 201 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Nasdaq during the 4th quarter valued at $29,000. Allworth Financial LP increased its position in shares of Nasdaq by 74.9% during the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 349 shares during the period. Lindbrook Capital LLC raised its stake in shares of Nasdaq by 158.5% in the 4th quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock worth $52,000 after buying an additional 553 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Nasdaq in the third quarter valued at $65,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Buying and Selling

In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total value of $181,826.04. Following the completion of the sale, the executive vice president now owns 58,636 shares in the company, valued at approximately $3,511,710.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $59.96 on Wednesday. The company’s fifty day moving average is $60.24 and its two-hundred day moving average is $59.07. The company has a market cap of $34.49 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $64.25. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.90.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts expect that Nasdaq, Inc. will post 2.68 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, June 14th. Nasdaq’s dividend payout ratio is 50.53%.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of research analyst reports. Morgan Stanley raised Nasdaq from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $80.00 in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. StockNews.com lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Barclays decreased their price target on shares of Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Finally, Rosenblatt Securities downgraded Nasdaq from a “buy” rating to a “neutral” rating and cut their price objective for the company from $76.00 to $64.00 in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Nasdaq 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.