Charles Schwab Investment Management Inc. Has $167.66 Million Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Charles Schwab Investment Management Inc. boosted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,296,354 shares of the financial services provider’s stock after purchasing an additional 195,314 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.40% of Nasdaq worth $167,657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Nasdaq by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock valued at $32,624,000 after buying an additional 57,900 shares during the last quarter. Swedbank AB purchased a new stake in shares of Nasdaq in the first quarter worth approximately $2,595,000. Diversified Trust Co lifted its holdings in shares of Nasdaq by 45.2% in the second quarter. Diversified Trust Co now owns 28,813 shares of the financial services provider’s stock valued at $1,736,000 after purchasing an additional 8,974 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Nasdaq by 52.7% in the first quarter. Cetera Investment Advisers now owns 30,214 shares of the financial services provider’s stock valued at $1,907,000 after purchasing an additional 10,427 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of Nasdaq by 8.9% during the second quarter. Foster Victor Wealth Advisors LLC now owns 289,016 shares of the financial services provider’s stock valued at $18,295,000 after buying an additional 23,557 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling

In other news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the sale, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeremy Skule sold 12,075 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the completion of the transaction, the executive vice president now owns 102,505 shares of the company’s stock, valued at $8,072,268.75. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,459 shares of company stock worth $3,811,808 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Nasdaq Price Performance

NDAQ stock opened at $81.07 on Monday. The firm has a 50 day moving average of $75.11 and a 200-day moving average of $68.15. The firm has a market capitalization of $46.60 billion, a P/E ratio of 48.55, a price-to-earnings-growth ratio of 3.15 and a beta of 0.95. Nasdaq, Inc. has a 12 month low of $53.62 and a 12 month high of $81.35. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. As a group, sell-side analysts predict that Nasdaq, Inc. will post 2.79 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, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research note on Monday, October 14th. Morgan Stanley boosted their price target on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Argus increased their price objective 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. Barclays upped their target price on Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their price objective on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and an average price target of $80.87.

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.