Central Pacific Bank Trust Division Lowers Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Central Pacific Bank Trust Division trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 39.5% in the fourth quarter, Holdings Channel reports. The firm owned 674 shares of the financial services provider’s stock after selling 440 shares during the period. Central Pacific Bank Trust Division’s holdings in Nasdaq were worth $52,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Wellington Management Group LLP lifted its stake in Nasdaq by 163.3% during the third 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 in the last quarter. Mizuho Securities USA LLC boosted its holdings in Nasdaq by 13,532.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock valued at $292,040,000 after acquiring an additional 3,970,658 shares during the period. State Street Corp grew its position in Nasdaq by 11.2% in the 3rd quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock valued at $1,310,653,000 after acquiring an additional 1,811,616 shares in the last quarter. Harris Associates L P increased its stake in Nasdaq by 14.6% during the third quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after purchasing an additional 1,096,090 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Nasdaq by 9.5% during 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 purchasing an additional 932,665 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NDAQ shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Nasdaq from $78.00 to $80.00 and gave the company a “hold” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 target price for the company in a report on Monday, October 14th. Oppenheimer upped their price target on Nasdaq from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Piper Sandler lifted their price objective on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.40.

Nasdaq Price Performance

Shares of NDAQ opened at $78.22 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. Nasdaq, Inc. has a 1-year low of $54.90 and a 1-year high of $83.77. The stock has a market cap of $44.96 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. The firm has a fifty day moving average price of $79.06 and a 200 day moving average price of $72.29.

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, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 2.79 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.24 per share. The ex-dividend date was Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

Insider Activity

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

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.