Mission Wealth Management LP Sells 1,176 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Mission Wealth Management LP reduced its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,934 shares of the financial services provider’s stock after selling 1,176 shares during the quarter. Mission Wealth Management LP’s holdings in Nasdaq were worth $1,195,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its holdings in shares of Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after buying an additional 201 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Nasdaq during the 4th quarter valued at $29,000. Allworth Financial LP lifted its holdings in Nasdaq by 74.9% during the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 349 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Nasdaq by 158.5% during the 4th quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 553 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Nasdaq during the 3rd quarter valued at $65,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Price Performance

Nasdaq stock traded up $0.24 during midday trading on Friday, reaching $60.38. The company’s stock had a trading volume of 825,796 shares, compared to its average volume of 1,916,530. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $64.25. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $60.22 and a 200-day moving average price of $59.12. The stock has a market cap of $34.73 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.26 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts predict that Nasdaq, Inc. will post 2.68 EPS for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, June 14th. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NDAQ. Edward Jones began coverage on Nasdaq in a report on Wednesday, April 3rd. They set a “buy” rating for the company. The Goldman Sachs Group raised Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, March 26th. Morgan Stanley upgraded Nasdaq from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $80.00 in a research report on Tuesday, April 9th. StockNews.com cut Nasdaq from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Argus increased their price objective on Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Activity

In other news, EVP Bryan Everard Smith sold 3,036 shares of Nasdaq stock in a transaction dated 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 of the company’s stock, valued at $3,511,710.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.