Envestnet Asset Management Inc. trimmed its holdings in shares of Nasdaq Inc (NASDAQ:NDAQ) by 35.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,076 shares of the financial services provider’s stock after selling 2,231 shares during the period. Envestnet Asset Management Inc.’s holdings in Nasdaq were worth $313,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of NDAQ. Delpha Capital Management LLC purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $103,000. Delta Asset Management LLC TN raised its stake in shares of Nasdaq by 6,087.0% during the 4th quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,400 shares in the last quarter. ARK Investment Management LLC purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $122,000. Cerebellum GP LLC purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $125,000. Finally, AlphaOne Investment Services LLC purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $154,000. 76.41% of the stock is owned by institutional investors and hedge funds.
In other news, Director Charlene T. Begley sold 4,017 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $81.37, for a total transaction of $326,863.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lars Ottersgard sold 6,451 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $80.75, for a total value of $520,918.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,668 shares of company stock worth $1,895,994. 0.40% of the stock is owned by insiders.
Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The firm had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $628.36 million. Nasdaq had a return on equity of 12.75% and a net margin of 18.49%. Nasdaq’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. equities research analysts forecast that Nasdaq Inc will post 4.83 earnings per share for the current year.
Nasdaq announced that its board has initiated a stock repurchase program on Monday, January 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.38. Nasdaq’s dividend payout ratio is 37.44%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Nasdaq from a “buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Raymond James upped their price target on Nasdaq from $87.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, April 10th. Sanford C. Bernstein initiated coverage on Nasdaq in a report on Monday, April 9th. They issued a “market perform” rating and a $90.00 price target on the stock. Deutsche Bank upped their price target on Nasdaq from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, April 6th. Finally, BidaskClub upgraded Nasdaq from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $87.04.
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Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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