DAVENPORT & Co LLC Sells 47,721 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

DAVENPORT & Co LLC cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 47.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,955 shares of the financial services provider’s stock after selling 47,721 shares during the period. DAVENPORT & Co LLC’s holdings in Nasdaq were worth $4,017,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in shares of Nasdaq by 163.3% in the third quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock worth $2,835,235,000 after purchasing an additional 24,084,154 shares during the period. State Street Corp increased its stake in shares of 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 increased its stake in shares of 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 during the period. Harris Associates L P increased its stake in shares of Nasdaq by 14.6% in the third quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after purchasing an additional 1,096,090 shares during the period. Finally, Mizuho Securities USA LLC increased its stake in shares of Nasdaq by 13,532.3% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after purchasing an additional 3,970,658 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Pc Nelson Griggs sold 5,742 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total transaction of $444,086.28. Following the completion of the transaction, the insider now directly owns 205,821 shares in the company, valued at $15,918,196.14. This represents a 2.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeremy Skule sold 12,075 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares of the company’s stock, valued at approximately $8,072,268.75. This represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,817 shares of company stock worth $2,330,033. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Raymond James lifted their price objective on Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Barclays lowered their price target on Nasdaq from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Saturday, December 14th. TD Cowen lowered their price target on Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, Morgan Stanley boosted their price target on Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.88.

Nasdaq Price Performance

NDAQ stock opened at $81.92 on Tuesday. The stock has a 50-day moving average price of $79.56 and a two-hundred day moving average price of $74.99. The stock has a market cap of $47.08 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. Nasdaq, Inc. has a 1 year low of $54.90 and a 1 year high of $83.77.

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

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq’s dividend payout ratio (DPR) is presently 50.00%.

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.