Comerica Bank lessened its stake in Nasdaq Inc (NASDAQ:NDAQ) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,027 shares of the financial services provider’s stock after selling 4,813 shares during the quarter. Comerica Bank’s holdings in Nasdaq were worth $4,304,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NDAQ. Delta Asset Management LLC TN lifted its holdings in shares of Nasdaq by 6,087.0% in the fourth quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,400 shares in the last quarter. Invictus RG bought a new position in shares of Nasdaq in the third quarter valued at approximately $111,000. Cerebellum GP LLC bought a new position in shares of Nasdaq in the fourth quarter valued at approximately $125,000. Conning Inc. bought a new position in shares of Nasdaq in the third quarter valued at approximately $200,000. Finally, Beaton Management Co. Inc. bought a new stake in Nasdaq during the third quarter worth $202,000. Institutional investors own 76.49% of the company’s stock.
Shares of Nasdaq Inc (NASDAQ:NDAQ) opened at $80.38 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.15 and a debt-to-equity ratio of 0.63. Nasdaq Inc has a fifty-two week low of $65.98 and a fifty-two week high of $83.29. The company has a market capitalization of $13,048.76, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.68 and a beta of 0.71.
Nasdaq announced that its board has initiated a share buyback program on Monday, January 29th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, March 15th. Nasdaq’s dividend payout ratio is currently 35.19%.
In other Nasdaq news, Director Charlene T. Begley sold 4,017 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $81.37, for a total value of $326,863.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lars Ottersgard sold 6,451 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $80.75, for a total value of $520,918.25. The disclosure for this sale can be found here. Insiders sold 31,701 shares of company stock valued at $2,552,781 over the last three months. Company insiders own 1.60% of the company’s stock.
NDAQ has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Nasdaq from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Barclays dropped their price target on Nasdaq from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. ValuEngine upgraded Nasdaq from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. UBS Group reiterated a “buy” rating and set a $89.00 price target (up from $83.00) on shares of Nasdaq in a report on Monday, December 11th. Finally, BidaskClub lowered Nasdaq from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Nasdaq has an average rating of “Hold” and an average target price of $82.05.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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