Nasdaq (NASDAQ:NDAQ) Reaches New 52-Week High Following Dividend Announcement

Nasdaq, Inc. (NASDAQ:NDAQ) hit a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $82.44 and last traded at $82.44, with a volume of 901455 shares. The stock had previously closed at $81.52.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Piper Sandler lifted 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. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $78.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Oppenheimer boosted their target price on shares of Nasdaq from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.87.

Nasdaq Trading Up 1.4 %

The company’s fifty day simple moving average is $75.27 and its two-hundred day simple moving average is $68.30. The company has a market capitalization of $47.50 billion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 3.16 and a beta of 0.95. 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) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 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 business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $0.71 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. Research analysts forecast that Nasdaq, Inc. will post 2.79 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jeremy Skule sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $77.92, for a total value of $935,040.00. Following the sale, the executive vice president now directly owns 114,580 shares in the company, valued at $8,928,073.60. The trade was a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.71, for a total value of $454,260.00. Following the transaction, the insider now directly owns 215,563 shares of the company’s stock, valued at $16,320,274.73. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,459 shares of company stock worth $3,811,808 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Several institutional investors have recently bought and sold shares of the company. Y.D. More Investments Ltd raised its holdings 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 purchasing an additional 202 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Nasdaq in the 2nd quarter valued at about $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Nasdaq in the third quarter valued at about $27,000. Crewe Advisors LLC raised its holdings in Nasdaq by 164.4% during the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 314 shares in the last quarter. Finally, Claro Advisors LLC bought a new stake in shares of Nasdaq during the 3rd quarter worth approximately $33,000. Institutional investors own 72.47% of the company’s stock.

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.