Spire Wealth Management Lowers Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Spire Wealth Management decreased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 6.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,702 shares of the financial services provider’s stock after selling 525 shares during the period. Spire Wealth Management’s holdings in Nasdaq were worth $446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its holdings in shares of Nasdaq by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 79,454 shares of the financial services provider’s stock valued at $3,861,000 after buying an additional 10,125 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Nasdaq by 33.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 132,255 shares of the financial services provider’s stock valued at $6,426,000 after purchasing an additional 33,464 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Nasdaq during the 3rd quarter valued at $276,000. TD Asset Management Inc raised its position in Nasdaq by 26.4% in the 3rd quarter. TD Asset Management Inc now owns 243,653 shares of the financial services provider’s stock worth $11,839,000 after purchasing an additional 50,880 shares during the period. Finally, ING Groep NV lifted its stake in Nasdaq by 6.9% in the third quarter. ING Groep NV now owns 53,838 shares of the financial services provider’s stock worth $2,616,000 after purchasing an additional 3,455 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Bryan Everard Smith sold 3,036 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the completion of the sale, the executive vice president now directly owns 58,636 shares in the company, valued at $3,511,710.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the transaction, the insider now owns 58,341,545 shares in the company, valued at $3,383,809,610. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,010,436 shares of company stock worth $1,798,647,360. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NDAQ shares. Piper Sandler boosted their target price on Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer raised their target price on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Rosenblatt Securities lowered shares of Nasdaq from a “buy” rating to a “neutral” rating and lowered their price target for the company from $76.00 to $64.00 in a report on Wednesday. StockNews.com lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $80.00 in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

Nasdaq Stock Performance

Shares of NDAQ opened at $60.18 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.90. The stock has a market cap of $34.62 billion, a P/E ratio of 31.67, a P/E/G ratio of 3.36 and a beta of 0.94. The business’s 50 day moving average price is $60.69 and its 200-day moving average price is $57.09. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $64.25.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. Nasdaq’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts anticipate that Nasdaq, Inc. will post 2.69 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.60%. Nasdaq’s dividend payout ratio (DPR) is 50.53%.

Nasdaq 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.