823,159 Shares in Nasdaq, Inc. (NASDAQ:NDAQ) Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 823,159 shares of the financial services provider's stock, valued at approximately $60,099,000. Lord Abbett & CO. LLC owned 0.14% of Nasdaq at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. increased its holdings in Nasdaq by 10.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 14,422 shares of the financial services provider's stock worth $869,000 after purchasing an additional 1,390 shares in the last quarter. Blue Trust Inc. boosted its holdings in Nasdaq by 52.5% in the 2nd quarter. Blue Trust Inc. now owns 1,450 shares of the financial services provider's stock worth $91,000 after buying an additional 499 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Nasdaq by 4.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,936 shares of the financial services provider's stock valued at $62,426,000 after buying an additional 44,432 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Nasdaq by 2.6% in the second quarter. Raymond James & Associates now owns 1,273,245 shares of the financial services provider's stock worth $76,726,000 after buying an additional 31,747 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Nasdaq by 0.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 131,855 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 405 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. StockNews.com raised Nasdaq from a "sell" rating to a "hold" rating in a research note on Saturday. Bank of America cut their price target on shares of Nasdaq from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Barclays lifted their price objective on Nasdaq from $87.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $88.00 price target on shares of Nasdaq in a research report on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $81.53.

Nasdaq Stock Down 0.9 %

NASDAQ NDAQ traded down $0.75 during mid-day trading on Friday, reaching $80.12. The stock had a trading volume of 1,890,678 shares, compared to its average volume of 2,849,274. Nasdaq, Inc. has a 1 year low of $54.54 and a 1 year high of $83.77. The company has a fifty day moving average price of $77.59 and a 200 day moving average price of $70.26. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $46.05 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. On average, research analysts expect that Nasdaq, Inc. will post 2.79 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.20%. Nasdaq's payout ratio is presently 57.49%.

Insider Buying and Selling

In other news, EVP Jeremy Skule sold 12,075 shares of the firm's 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 completion of the transaction, the executive vice president now owns 102,505 shares in the company, valued at $8,072,268.75. This trade represents a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bradley J. Peterson sold 13,642 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 142,830 shares of the company's stock, valued at $10,757,955.60. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is owned by company insiders.

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.