Oppenheimer Asset Management Inc. Boosts Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Oppenheimer Asset Management Inc. raised its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,914 shares of the financial services provider’s stock after buying an additional 279 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Nasdaq were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GHP Investment Advisors Inc. grew its position in Nasdaq by 86.9% during the second quarter. GHP Investment Advisors Inc. now owns 98,726 shares of the financial services provider’s stock worth $5,949,000 after buying an additional 45,893 shares in the last quarter. Meeder Advisory Services Inc. purchased a new position in shares of Nasdaq in the 2nd quarter worth about $244,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Nasdaq by 17.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 161,046 shares of the financial services provider’s stock worth $9,780,000 after purchasing an additional 24,093 shares in the last quarter. Private Wealth Partners LLC boosted its holdings in shares of Nasdaq by 44.4% in the 2nd quarter. Private Wealth Partners LLC now owns 5,200 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nasdaq

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the 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 owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NDAQ. Deutsche Bank Aktiengesellschaft upped their price objective on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Barclays upped their price objective on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Oppenheimer increased their target price on Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Bank of America upgraded Nasdaq from an “underperform” rating to a “buy” rating and increased their target price for the company from $53.00 to $90.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $72.08.

Nasdaq Stock Performance

NDAQ opened at $74.29 on Monday. The business has a 50 day simple moving average of $69.08 and a two-hundred day simple moving average of $63.63. The firm 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. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $74.68.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. Nasdaq’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. Analysts predict that Nasdaq, Inc. will post 2.74 EPS for the current year.

Nasdaq Announces Dividend

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

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.