Nasdaq (NASDAQ:NDAQ) Hits New 52-Week High at $74.25

Nasdaq, Inc. (NASDAQ:NDAQ) hit a new 52-week high during trading on Thursday . The stock traded as high as $74.25 and last traded at $74.04, with a volume of 1465915 shares traded. The stock had previously closed at $72.90.

Wall Street Analysts Forecast Growth

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

Nasdaq Stock Performance

The business has a fifty day moving average of $68.61 and a 200-day moving average of $63.35. The company has a market cap of $42.73 billion, a PE ratio of 38.65, a P/E/G ratio of 2.97 and a beta of 0.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85.

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 the consensus estimate of $0.64 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 25.3% compared to the same quarter last year. Equities research analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.29%. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

Insider Activity

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the transaction, the insider now directly owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its holdings in shares of Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in Nasdaq by 89.3% during the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Nasdaq in the second quarter worth about $26,000. LRI Investments LLC bought a new position in shares of Nasdaq during the first quarter valued at approximately $31,000. Finally, Crewe Advisors LLC increased its stake in shares of Nasdaq by 164.4% during the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

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.