Nasdaq (NASDAQ:NDAQ) Sets New 12-Month High After Dividend Announcement

Nasdaq, Inc. (NASDAQ:NDAQ) reached a new 52-week high during trading on Thursday after the company announced a dividend. The stock traded as high as $80.51 and last traded at $80.51, with a volume of 1928 shares changing hands. The stock had previously closed at $79.87.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, December 6th. Nasdaq’s payout ratio is currently 57.49%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NDAQ. UBS Group lifted their price objective on Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Nasdaq in a research note on Friday, October 25th. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Friday, November 8th. TD Cowen dropped their target price on Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Bank of America decreased their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.87.

Nasdaq Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $46.27 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 3.10 and a beta of 0.95. The business’s 50-day moving average is $74.06 and its two-hundred day moving average is $67.14.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 2.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 12,000 shares of Nasdaq stock in a transaction that occurred on 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jeremy Skule sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $77.92, for a total transaction of $935,040.00. Following the sale, the executive vice president now owns 114,580 shares of the company’s stock, valued at $8,928,073.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at $10,757,955.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,384 shares of company stock worth $2,860,902. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

A number of large investors have recently added to or reduced their stakes in NDAQ. Y.D. More Investments Ltd raised its position in shares of 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 purchasing an additional 202 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Nasdaq during the second quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new position in shares of Nasdaq in the third quarter worth $27,000. Crewe Advisors LLC lifted its position in shares of Nasdaq by 164.4% in the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 314 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Nasdaq in the 1st quarter valued at about $31,000. 72.47% of the stock is owned by institutional investors and hedge funds.

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.