Park Avenue Securities LLC Purchases 783 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Park Avenue Securities LLC raised its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 12.5% in the fourth quarter, Holdings Channel reports. The fund owned 7,056 shares of the financial services provider’s stock after buying an additional 783 shares during the quarter. Park Avenue Securities LLC’s holdings in Nasdaq were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Wellington Management Group LLP lifted its position in shares of Nasdaq by 163.3% during the 3rd quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock worth $2,835,235,000 after purchasing an additional 24,084,154 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Nasdaq by 13,532.3% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after buying an additional 3,970,658 shares during the last quarter. State Street Corp lifted its holdings in shares of Nasdaq by 11.2% during the third quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock worth $1,310,653,000 after buying an additional 1,811,616 shares during the last quarter. Harris Associates L P boosted its position in shares of Nasdaq by 14.6% in the third quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock valued at $627,596,000 after acquiring an additional 1,096,090 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Nasdaq by 9.5% in the third quarter. Geode Capital Management LLC now owns 10,761,240 shares of the financial services provider’s stock worth $783,181,000 after acquiring an additional 932,665 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ opened at $81.03 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The business’s fifty day moving average price is $79.37 and its two-hundred day moving average price is $73.87. Nasdaq, Inc. has a fifty-two week low of $54.90 and a fifty-two week high of $83.77. The stock has a market capitalization of $46.57 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, analysts predict that Nasdaq, Inc. will post 2.81 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.18%. Nasdaq’s dividend payout ratio is 57.49%.

Wall Street Analyst Weigh In

Several research firms recently commented on NDAQ. Argus upped their target price on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Nasdaq in a research report on Thursday, January 9th. StockNews.com raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Saturday, December 14th. Piper Sandler upped their price target on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Nasdaq from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $98.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.73.

Insider Transactions at Nasdaq

In other news, insider Pc Nelson Griggs sold 5,742 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total transaction of $444,086.28. Following the sale, the insider now owns 205,821 shares in the company, valued at approximately $15,918,196.14. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,459 shares of company stock valued at $3,811,808. Corporate 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.