DAVENPORT & Co LLC Has $4.02 Million Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

DAVENPORT & Co LLC reduced its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its stake in Nasdaq by 3.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider's stock valued at $290,000 after buying an additional 137 shares in the last quarter. First Pacific Financial raised its position in shares of Nasdaq by 1.0% during the 3rd quarter. First Pacific Financial now owns 13,842 shares of the financial services provider's stock valued at $1,011,000 after acquiring an additional 142 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Nasdaq by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider's stock valued at $759,000 after acquiring an additional 148 shares in the last quarter. Brooklyn Investment Group lifted its stake in Nasdaq by 8.5% during the fourth quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider's stock worth $147,000 after purchasing an additional 148 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its holdings in Nasdaq by 4.2% in the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider's stock worth $268,000 after purchasing an additional 149 shares during the period. Institutional investors own 72.47% of the company's stock.

Nasdaq Price Performance

Nasdaq stock traded down $0.94 during midday trading on Friday, hitting $82.82. The company's stock had a trading volume of 1,865,239 shares, compared to its average volume of 2,852,502. Nasdaq, Inc. has a 12 month low of $54.90 and a 12 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 stock's 50-day moving average price is $79.55 and its 200-day moving average price is $75.38. The company has a market capitalization of $47.60 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99.

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

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date 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 Buying and Selling

In other Nasdaq news, EVP Bryan Everard Smith sold 3,500 shares of Nasdaq stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $81.56, for a total transaction of $285,460.00. Following the transaction, the executive vice president now owns 55,576 shares of the company's stock, valued at $4,532,778.56. The trade was a 5.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the completion of the sale, the executive vice president now directly owns 102,505 shares of the company's stock, 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. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Nasdaq from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Nasdaq from a "hold" rating to a "buy" rating and raised their target price for the stock from $80.00 to $98.00 in a report on Wednesday, January 8th. Argus upped their target price on Nasdaq from $76.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. TD Cowen cut their price target on Nasdaq from $81.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on Nasdaq from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.