Frank Rimerman Advisors LLC Invests $531,000 in Nasdaq, Inc. (NASDAQ:NDAQ)

Frank Rimerman Advisors LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,814 shares of the financial services provider’s stock, valued at approximately $531,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd raised its position in shares of Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Nasdaq in the 2nd quarter valued at about $26,000. Salem Investment Counselors Inc. raised its holdings in Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 201 shares during the last quarter. Crewe Advisors LLC lifted its stake in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Nasdaq during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of Nasdaq stock in a transaction dated 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 owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Down 0.4 %

Shares of NASDAQ:NDAQ opened at $74.01 on Tuesday. The firm has a market capitalization of $42.57 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 2.97 and a beta of 0.95. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $74.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day moving average is $69.30 and its two-hundred day moving average is $63.74.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. Analysts predict that Nasdaq, Inc. will post 2.74 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

Wall Street Analysts Forecast Growth

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

About Nasdaq

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.