Retirement Systems of Alabama Raises Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Retirement Systems of Alabama grew its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,640 shares of the financial services provider's stock after purchasing an additional 6,704 shares during the period. Retirement Systems of Alabama's holdings in Nasdaq were worth $6,618,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tidal Investments LLC lifted its position in Nasdaq by 38.6% during the third quarter. Tidal Investments LLC now owns 60,535 shares of the financial services provider's stock valued at $4,420,000 after purchasing an additional 16,868 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Nasdaq in the 3rd quarter worth $1,266,000. Sfmg LLC purchased a new stake in shares of Nasdaq during the third quarter worth about $207,000. World Investment Advisors LLC purchased a new stake in Nasdaq in the 3rd quarter worth $651,000. Finally, Sanctuary Advisors LLC increased its holdings in shares of Nasdaq by 0.8% in the third quarter. Sanctuary Advisors LLC now owns 50,615 shares of the financial services provider's stock worth $4,103,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 6,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.71, for a total transaction of $454,260.00. Following the sale, the insider now owns 215,563 shares of the company's stock, valued at approximately $16,320,274.73. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeremy Skule sold 12,075 shares of Nasdaq stock in a transaction 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 sale, the executive vice president now owns 102,505 shares of the company's stock, valued at $8,072,268.75. The trade was a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,459 shares of company stock valued at $3,811,808. Corporate insiders own 0.70% of the company's stock.

Nasdaq Trading Down 0.1 %

NDAQ traded down $0.09 on Thursday, reaching $77.38. 3,238,169 shares of the company traded hands, compared to its average volume of 2,847,781. The company has a market cap of $44.47 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 3.12 and a beta of 0.97. The firm has a fifty day simple moving average of $78.14 and a two-hundred day simple moving average of $70.65. Nasdaq, Inc. has a one year low of $54.90 and a one year high of $83.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (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 for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Nasdaq's revenue was up 21.9% compared to the same quarter last year. As a group, equities research analysts expect that Nasdaq, Inc. will post 2.79 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, December 6th. Nasdaq's payout ratio is 57.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NDAQ shares. Oppenheimer boosted their price target on shares of Nasdaq from $84.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Nasdaq from $77.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Piper Sandler upped their price objective on Nasdaq from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. William Blair assumed coverage on Nasdaq in a report on Monday, November 25th. They issued an "outperform" rating for the company. Finally, Barclays increased their price target on Nasdaq from $87.00 to $97.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $81.53.

Nasdaq Company 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.