Today: The Smithfield Trust Co. Reduces Stake in Nasdaq Inc (NDAQ)

The Smithfield Trust Co. Reduces Stake in Nasdaq Inc (NDAQ)

Smithfield Trust Co. decreased its stake in shares of Nasdaq Inc (NASDAQ:NDAQ) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,907 shares of the company’s stock after selling 22 shares during the period. Smithfield Trust Co.’s holdings in Nasdaq were worth $317,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in NDAQ. Arizona State Retirement System increased its stake in shares of Nasdaq by 0.6% in the first quarter. Arizona State Retirement System now owns 31,075 shares of the company’s stock valued at $2,063,000 after buying an additional 200 shares during the period. Conning Inc. increased its stake in shares of Nasdaq by 5.2% in the second quarter. Conning Inc. now owns 4,036 shares of the company’s stock valued at $261,000 after buying an additional 200 shares during the period. Eagle Boston Investment Management Inc. increased its stake in shares of Nasdaq by 0.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 32,843 shares of the company’s stock valued at $2,123,000 after buying an additional 225 shares during the period. Genesee Valley Trust Co. increased its stake in shares of Nasdaq by 2.4% in the second quarter. Genesee Valley Trust Co. now owns 10,286 shares of the company’s stock valued at $665,000 after buying an additional 243 shares during the period. Finally, BKD Wealth Advisors LLC increased its stake in shares of Nasdaq by 10.8% in the second quarter. BKD Wealth Advisors LLC now owns 4,038 shares of the company’s stock valued at $261,000 after buying an additional 395 shares during the period. 74.21% of the stock is currently owned by institutional investors.

Shares of Nasdaq Inc (NASDAQ:NDAQ) traded down 1.29% during midday trading on Monday, reaching $66.37. 279,170 shares of the company’s stock were exchanged. Nasdaq Inc has a one year low of $54.62 and a one year high of $71.92. The company’s 50-day moving average is $68.97 and its 200-day moving average is $66.70. The stock has a market cap of $10.98 billion, a P/E ratio of 22.98 and a beta of 0.81.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The company earned $559 million during the quarter, compared to the consensus estimate of $548 million. During the same period in the previous year, the company posted $0.83 earnings per share. Nasdaq’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that Nasdaq Inc will post $3.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s payout ratio is presently 44.44%.

Several brokerages recently commented on NDAQ. Barclays PLC downgraded shares of Nasdaq to an “overweight” rating and increased their price objective for the company from $79.00 to $80.00 in a research report on Thursday, September 8th. Deutsche Bank AG upped their target price on shares of Nasdaq from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research cut shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Credit Suisse Group AG restated a “buy” rating and set a $72.00 target price on shares of Nasdaq in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $70.26.

In other Nasdaq news, insider Pc Nelson Griggs sold 2,945 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $71.52, for a total value of $210,626.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward S. Knight sold 19,555 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $70.40, for a total value of $1,376,672.00. Following the completion of the transaction, the insider now directly owns 76,407 shares of the company’s stock, valued at $5,379,052.80. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

About Nasdaq

Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.

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