Diamond Hill Capital Management Inc. Cuts Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Diamond Hill Capital Management Inc. cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,703,884 shares of the financial services provider's stock after selling 63,291 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.82% of Nasdaq worth $343,431,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NDAQ. Y.D. More Investments Ltd increased its position in shares of Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Nasdaq during the second quarter valued at $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Nasdaq in the third quarter valued at $27,000. Crewe Advisors LLC grew its position in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 314 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Nasdaq in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Trading Up 2.0 %

Shares of Nasdaq stock traded up $1.56 on Monday, hitting $80.25. The stock had a trading volume of 622,190 shares, compared to its average volume of 2,876,510. Nasdaq, Inc. has a one year low of $51.72 and a one year high of $80.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The stock's 50-day simple moving average is $73.62 and its two-hundred day simple moving average is $66.78. The stock has a market cap of $46.12 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 3.08 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $0.71 EPS. Nasdaq's revenue for the quarter was up 21.9% on a year-over-year basis. As a group, sell-side analysts predict that Nasdaq, Inc. will post 2.78 EPS for the current year.

Nasdaq Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NDAQ. Bank of America dropped their price target on Nasdaq from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on shares of Nasdaq from $77.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. 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 note on Monday, October 14th. Barclays raised their price target on Nasdaq from $84.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, UBS Group raised their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.87.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 12,000 shares of Nasdaq stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the transaction, the executive vice president now directly owns 114,580 shares of the company's stock, valued at $8,928,073.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Pc Nelson Griggs sold 6,000 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.71, for a total value of $454,260.00. Following the completion of the transaction, the insider now owns 215,563 shares of the company's stock, valued at $16,320,274.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeremy Skule sold 12,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $77.92, for a total transaction of $935,040.00. Following the sale, the executive vice president now directly owns 114,580 shares in the company, valued at approximately $8,928,073.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,384 shares of company stock valued at $2,860,902. 0.70% of the stock is currently owned by corporate 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.