Gold Investment Management Ltd. Trims Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Gold Investment Management Ltd. decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,194 shares of the financial services provider’s stock after selling 479 shares during the period. Gold Investment Management Ltd.’s holdings in Nasdaq were worth $1,842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mediolanum International Funds Ltd bought a new position in Nasdaq in the first quarter valued at about $1,385,000. Central Pacific Bank Trust Division bought a new stake in Nasdaq during the 1st quarter valued at $82,000. Mutual of America Capital Management LLC lifted its holdings in Nasdaq by 9.4% during the first quarter. Mutual of America Capital Management LLC now owns 49,822 shares of the financial services provider’s stock worth $3,144,000 after buying an additional 4,267 shares during the period. Daiwa Securities Group Inc. boosted its stake in Nasdaq by 91.3% in the first quarter. Daiwa Securities Group Inc. now owns 74,545 shares of the financial services provider’s stock valued at $4,704,000 after acquiring an additional 35,583 shares in the last quarter. Finally, Graypoint LLC purchased a new stake in Nasdaq during the 1st quarter worth approximately $461,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

Nasdaq stock traded up $0.82 during mid-day trading on Wednesday, reaching $61.63. 1,631,813 shares of the company were exchanged, compared to its average volume of 2,831,247. The company has a fifty day simple moving average of $60.28 and a 200-day simple moving average of $59.24. The firm has a market cap of $35.45 billion, a PE ratio of 32.44, a PEG ratio of 3.28 and a beta of 0.94. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $64.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, equities research analysts expect that Nasdaq, Inc. will post 2.68 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.56%. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, June 14th. Nasdaq’s dividend payout ratio is 50.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NDAQ shares. Edward Jones began coverage on Nasdaq in a research report on Wednesday, April 3rd. They set a “buy” rating on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. StockNews.com lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Rosenblatt Securities lowered Nasdaq from a “buy” rating to a “neutral” rating and dropped their target price for the company from $76.00 to $64.00 in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group raised Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Nasdaq has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Transactions at Nasdaq

In related news, EVP Bryan Everard Smith sold 3,036 shares of Nasdaq stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total transaction of $181,826.04. Following the sale, the executive vice president now directly owns 58,636 shares in the company, valued at $3,511,710.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

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.