Tobam Reduces Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Tobam reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 81.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,646 shares of the financial services provider’s stock after selling 7,070 shares during the period. Tobam’s holdings in Nasdaq were worth $127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Nasdaq by 163.3% in the 3rd quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock worth $2,835,235,000 after acquiring an additional 24,084,154 shares in the last quarter. State Street Corp grew its stake in Nasdaq by 11.2% in the third quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock worth $1,310,653,000 after purchasing an additional 1,811,616 shares during the period. Geode Capital Management LLC raised its holdings in Nasdaq by 9.5% in 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. Harris Associates L P lifted its position 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 valued at $627,596,000 after buying an additional 1,096,090 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in shares of 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 buying an additional 3,970,658 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Down 1.1 %

Shares of Nasdaq stock opened at $82.82 on Friday. Nasdaq, Inc. has a twelve month low of $54.90 and a twelve month high of $84.15. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $79.55 and its 200 day moving average is $75.38. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. Research analysts anticipate that Nasdaq, Inc. will post 3.17 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.16%. Nasdaq’s dividend payout ratio is currently 50.00%.

Insider Activity

In other news, EVP Bryan Everard Smith sold 3,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $81.56, for a total value of $285,460.00. Following the completion of the sale, the executive vice president now directly owns 55,576 shares in the company, valued at $4,532,778.56. This represents a 5.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 12,075 shares of Nasdaq stock in a transaction on Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares in the company, valued at $8,072,268.75. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several research reports. UBS Group increased their price target on shares of Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Nasdaq in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Oppenheimer lifted their price objective on Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Finally, Raymond James increased their target price on Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.88.

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.