State of Alaska Department of Revenue Trims Stake in Nasdaq, Inc. $NDAQ

State of Alaska Department of Revenue trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,432 shares of the financial services provider’s stock after selling 2,065 shares during the quarter. State of Alaska Department of Revenue’s holdings in Nasdaq were worth $4,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NDAQ. Bruce G. Allen Investments LLC grew its holdings in Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. Vestcor Inc lifted its position in shares of Nasdaq by 1.6% in the 1st quarter. Vestcor Inc now owns 8,825 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 141 shares during the period. Sax Wealth Advisors LLC boosted its stake in shares of Nasdaq by 0.5% during the first quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider’s stock valued at $2,282,000 after purchasing an additional 144 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Nasdaq by 7.1% during the first quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 187 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $25,000 after buying an additional 216 shares during the period. Institutional investors own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NDAQ shares. Morgan Stanley upped their target price on Nasdaq from $75.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Citigroup restated a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, Raymond James Financial reissued an “outperform” rating and set a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.06.

Insider Activity at Nasdaq

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,304 shares of company stock valued at $2,035,896 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $88.71 on Tuesday. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The company has a market cap of $50.90 billion, a PE ratio of 34.12, a P/E/G ratio of 1.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50-day simple moving average of $93.62 and a two-hundred day simple moving average of $85.25.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. Nasdaq’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. As a group, equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s payout ratio is 41.54%.

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.