Nasdaq, Inc. Plans Quarterly Dividend of $0.24 (NASDAQ:NDAQ)

Nasdaq, Inc. (NASDAQ:NDAQ) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.24 per share by the financial services provider on Friday, December 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.30%.

Nasdaq has increased its dividend payment by an average of 10.0% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Nasdaq has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nasdaq to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 31.0%.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $73.91 on Thursday. Nasdaq has a twelve month low of $47.56 and a twelve month high of $74.93. The company has a market cap of $42.51 billion, a P/E ratio of 38.90, a P/E/G ratio of 2.99 and a beta of 0.95. The company’s 50-day moving average price is $72.35 and its 200-day moving average price is $65.53. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $0.71 earnings per share. Nasdaq’s revenue was up 25.3% compared to the same quarter last year. On average, sell-side analysts forecast that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Nasdaq in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays lifted their price target on shares of Nasdaq from $77.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $79.07.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.70% 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.