Amalgamated Bank Boosts Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Amalgamated Bank raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,135 shares of the financial services provider’s stock after buying an additional 4,640 shares during the period. Amalgamated Bank’s holdings in Nasdaq were worth $4,528,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NDAQ. Y.D. More Investments Ltd raised its stake in Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Nasdaq by 89.3% during the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Nasdaq in the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new stake in shares of Nasdaq in the 1st quarter valued at about $31,000. Finally, Crewe Advisors LLC grew its stake in Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after buying an additional 314 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on NDAQ. Bank of America upgraded shares of Nasdaq from an “underperform” rating to a “buy” rating and upped their price target for the company from $53.00 to $90.00 in a research report on Wednesday, September 4th. Oppenheimer upped their target price on shares of Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays lifted their target price on Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $74.29 on Friday. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $74.68. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day moving average price of $69.08 and a two-hundred day moving average price of $63.59. The stock has a market capitalization of $42.73 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.97 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. Nasdaq’s payout ratio is 50.53%.

Insider Transactions at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the transaction, the insider now directly owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

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.