Nasdaq, Inc. (NASDAQ:NDAQ) Holdings Trimmed by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 22.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,315 shares of the financial services provider’s stock after selling 8,902 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Nasdaq were worth $1,827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Y.D. More Investments Ltd raised its holdings in shares of Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Nasdaq during the 2nd quarter valued at $26,000. Salem Investment Counselors Inc. lifted its position in shares of Nasdaq by 89.3% during the 1st 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 during the last quarter. Crewe Advisors LLC boosted its stake in shares of Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 314 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Nasdaq in the 1st quarter worth $31,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the transaction, the insider now directly owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Stock Up 0.4 %

Shares of Nasdaq stock opened at $73.30 on Tuesday. The firm has a market cap of $42.16 billion, a price-to-earnings ratio of 38.58, a P/E/G ratio of 2.97 and a beta of 0.95. The stock has a 50-day simple moving average of $68.15 and a 200-day simple moving average of $63.17. Nasdaq, Inc. has a 52-week low of $46.88 and a 52-week high of $74.17. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts expect that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, September 13th. Nasdaq’s payout ratio is 50.53%.

Analysts Set New Price Targets

Several brokerages have recently commented on NDAQ. Keefe, Bruyette & Woods upped their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays raised their target price on shares of Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Bank of America upgraded shares of Nasdaq from an “underperform” rating to a “buy” rating and boosted their price target for the company from $53.00 to $90.00 in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Oppenheimer boosted their target price on shares of Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.08.

About Nasdaq

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.