PNC Financial Services Group Inc. trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,455 shares of the financial services provider's stock after selling 11,684 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Nasdaq were worth $18,435,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Nasdaq by 163.3% in the third quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider's stock valued at $2,835,235,000 after purchasing an additional 24,084,154 shares in the last quarter. State Street Corp raised its stake in Nasdaq by 11.2% in the third quarter. State Street Corp now owns 17,951,698 shares of the financial services provider's stock valued at $1,310,653,000 after purchasing an additional 1,811,616 shares in the last quarter. Geode Capital Management LLC raised its stake in Nasdaq by 9.5% in the third quarter. Geode Capital Management LLC now owns 10,761,240 shares of the financial services provider's stock valued at $783,181,000 after purchasing an additional 932,665 shares in the last quarter. Harris Associates L P raised its stake in Nasdaq by 14.6% in the third quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider's stock valued at $627,596,000 after purchasing an additional 1,096,090 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in Nasdaq by 13,532.3% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider's stock valued at $292,040,000 after purchasing an additional 3,970,658 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NDAQ has been the topic of a number of recent research reports. Oppenheimer increased their price target on shares of Nasdaq from $86.00 to $89.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Nasdaq in a research report on Thursday, January 30th. Barclays reduced their price target on shares of Nasdaq from $96.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. StockNews.com upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Saturday, December 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Five equities research analysts have rated the stock with a hold rating and fourteen 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 an average target price of $86.88.
Read Our Latest Analysis on Nasdaq
Insider Buying and Selling
In related news, EVP Bryan Everard Smith sold 3,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $81.56, for a total value of $285,460.00. Following the transaction, the executive vice president now owns 55,576 shares in the company, valued at $4,532,778.56. The trade was a 5.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.
Nasdaq Trading Down 1.1 %
NASDAQ:NDAQ traded down $0.81 during trading hours on Thursday, hitting $72.17. The company had a trading volume of 3,122,576 shares, compared to its average volume of 2,905,761. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market capitalization of $41.51 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.12 and a beta of 0.96. The stock has a 50-day moving average price of $79.50 and a 200 day moving average price of $77.27. Nasdaq, Inc. has a 52 week low of $57.96 and a 52 week high of $84.15.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. On average, equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.
Nasdaq Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq's payout ratio is 50.00%.
Nasdaq Profile
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Free Report)
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.
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