Cumberland Partners Ltd Invests $10.40 Million in Nasdaq, Inc. (NASDAQ:NDAQ)

Cumberland Partners Ltd purchased a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 142,444 shares of the financial services provider’s stock, valued at approximately $10,400,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Nasdaq by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after acquiring an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC raised its holdings in shares of Nasdaq by 28.4% in the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after buying an additional 1,866,219 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Nasdaq by 2.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock worth $287,270,000 after acquiring an additional 94,122 shares during the last quarter. Bessemer Group Inc. increased its position in Nasdaq by 26.5% in the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock valued at $181,609,000 after acquiring an additional 602,040 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Nasdaq by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock worth $147,272,000 after purchasing an additional 82,606 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the sale, the executive vice president now directly owns 142,830 shares in the company, valued at approximately $10,757,955.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.71, for a total value of $454,260.00. Following the completion of the sale, the insider now owns 215,563 shares of the company’s stock, valued at approximately $16,320,274.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at $10,757,955.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,384 shares of company stock worth $2,860,902. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their price target on Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Argus raised their target price on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen dropped their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.87.

Nasdaq Stock Down 0.1 %

Shares of NASDAQ:NDAQ traded down $0.05 during midday trading on Tuesday, reaching $79.61. 191,006 shares of the company were exchanged, compared to its average volume of 2,870,325. The firm has a market cap of $45.76 billion, a PE ratio of 47.70, a P/E/G ratio of 3.08 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. Nasdaq, Inc. has a fifty-two week low of $51.72 and a fifty-two week high of $80.41. The stock has a fifty day simple moving average of $73.77 and a two-hundred day simple moving average of $66.92.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 2.78 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio is presently 57.49%.

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.