Mcrae Capital Management Inc. Has $21.98 Million Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Mcrae Capital Management Inc. reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 300,991 shares of the financial services provider’s stock after selling 1,045 shares during the quarter. Nasdaq makes up 4.3% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Mcrae Capital Management Inc. owned approximately 0.05% of Nasdaq worth $21,975,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd lifted its holdings in Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Nasdaq in the 2nd quarter worth approximately $26,000. Crewe Advisors LLC lifted its holdings in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Nasdaq during the first quarter worth approximately $31,000. Finally, Claro Advisors LLC acquired a new position in shares of Nasdaq during the third quarter worth approximately $33,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the sale, the insider now directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NDAQ shares. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price objective on shares of Nasdaq in a research report on Friday. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a research report on Monday, October 14th. Bank of America reduced their price objective on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Barclays increased their price objective on Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.47.

Nasdaq Stock Performance

Nasdaq stock opened at $74.69 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a fifty day moving average price of $72.56 and a two-hundred day moving average price of $65.70. Nasdaq, Inc. has a 52-week low of $47.56 and a 52-week high of $75.68. The firm has a market capitalization of $43.02 billion, a P/E ratio of 42.93, a P/E/G ratio of 3.09 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts anticipate that Nasdaq, Inc. will post 2.75 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.29%. Nasdaq’s dividend payout ratio is currently 55.17%.

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.