Bank of New York Mellon Corp Acquires 82,606 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of New York Mellon Corp grew its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,443,939 shares of the financial services provider's stock after buying an additional 82,606 shares during the period. Bank of New York Mellon Corp owned 0.42% of Nasdaq worth $147,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Nasdaq by 11.0% during the 4th quarter. CWM LLC now owns 12,971 shares of the financial services provider's stock worth $754,000 after acquiring an additional 1,288 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Nasdaq by 13.3% in the 4th quarter. Russell Investments Group Ltd. now owns 296,996 shares of the financial services provider's stock valued at $17,272,000 after buying an additional 34,898 shares during the period. Mather Group LLC. acquired a new stake in shares of Nasdaq during the 4th quarter worth approximately $226,000. Kestra Private Wealth Services LLC raised its position in shares of Nasdaq by 62.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,520 shares of the financial services provider's stock valued at $902,000 after buying an additional 5,981 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in Nasdaq by 11.7% in the fourth quarter. Mission Wealth Management LP now owns 20,110 shares of the financial services provider's stock valued at $1,169,000 after acquiring an additional 2,112 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Up 0.7 %

NDAQ stock traded up $0.46 during midday trading on Tuesday, reaching $71.05. 1,515,962 shares of the company were exchanged, compared to its average volume of 2,942,435. The stock's 50-day simple moving average is $64.47 and its 200 day simple moving average is $61.48. Nasdaq, Inc. has a 1-year low of $46.88 and a 1-year high of $71.16. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.94. The company has a market cap of $40.87 billion, a price-to-earnings ratio of 37.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company's revenue was up 25.3% compared to the same quarter last year. On average, equities analysts forecast that Nasdaq, Inc. will post 2.73 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.35%. Nasdaq's dividend payout ratio (DPR) is 50.53%.

Insiders Place Their Bets

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the transaction, the insider now owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on NDAQ. Rosenblatt Securities downgraded Nasdaq from a "buy" rating to a "neutral" rating and reduced their target price for the company from $76.00 to $64.00 in a research report on Wednesday, May 8th. Barclays upped their price objective on shares of Nasdaq from $74.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Argus upped their price target on Nasdaq from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Nasdaq from $66.00 to $72.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods increased their target price on Nasdaq from $76.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.54.

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.