Sax Wealth Advisors LLC Invests $2.28 Million in Nasdaq, Inc. (NASDAQ:NDAQ)

Sax Wealth Advisors LLC bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,172 shares of the financial services provider’s stock, valued at approximately $2,276,000.

A number of other hedge funds have also modified their holdings of NDAQ. Y.D. More Investments Ltd grew its stake 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 in the last quarter. Salem Investment Counselors Inc. boosted its holdings in Nasdaq by 89.3% during 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 period. Hobbs Group Advisors LLC purchased a new position in Nasdaq during the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in Nasdaq in the 1st quarter valued at about $31,000. Finally, Crewe Advisors LLC increased its stake 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 purchasing an additional 314 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the sale, the insider now directly owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Nasdaq Stock Up 0.1 %

NDAQ opened at $74.23 on Friday. Nasdaq, Inc. has a one year low of $47.56 and a one year high of $74.88. 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 market capitalization of $42.70 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. The business’s 50-day simple moving average is $71.89 and its 200-day simple moving average is $65.15.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion for 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%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Analysts anticipate that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.29%. Nasdaq’s dividend payout ratio (DPR) is 50.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. TD Cowen assumed coverage on Nasdaq in a research note on Thursday, September 26th. They issued a “hold” rating and a $83.00 price objective on the stock. Barclays lifted their target price on Nasdaq from $77.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Oppenheimer upped their price target on Nasdaq from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.06.

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.