Retirement Systems of Alabama Acquires 6,704 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Retirement Systems of Alabama increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,640 shares of the financial services provider’s stock after acquiring an additional 6,704 shares during the period. Retirement Systems of Alabama’s holdings in Nasdaq were worth $6,618,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cumberland Partners Ltd purchased a new position in shares of Nasdaq during the third quarter valued at approximately $10,400,000. Thompson Siegel & Walmsley LLC purchased a new position in Nasdaq during the third quarter valued at $2,701,000. Nomura Asset Management Co. Ltd. boosted its holdings in Nasdaq by 49.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 164,179 shares of the financial services provider’s stock worth $11,987,000 after acquiring an additional 54,594 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Nasdaq by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,843 shares of the financial services provider’s stock worth $142,144,000 after acquiring an additional 174,778 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Nasdaq by 163.3% in the third quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock worth $2,835,235,000 after acquiring an additional 24,084,154 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 2.7 %

NDAQ stock opened at $77.47 on Thursday. The company has a market cap of $44.53 billion, a price-to-earnings ratio of 46.39, a P/E/G ratio of 3.12 and a beta of 0.97. 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 business’s 50-day moving average is $78.03 and its two-hundred day moving average is $70.61. Nasdaq, Inc. has a fifty-two week low of $54.90 and a fifty-two week high of $83.77.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, analysts forecast that Nasdaq, Inc. will post 2.79 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio is presently 57.49%.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of analyst reports. Piper Sandler upped their price target on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays upped their target price on shares of Nasdaq from $87.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price objective on shares of Nasdaq in a report on Tuesday, November 19th. TD Cowen lowered their price objective on Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Oppenheimer lifted their target price on Nasdaq from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.53.

Insider Transactions at Nasdaq

In related news, insider Pc Nelson Griggs sold 5,742 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total value of $444,086.28. Following the completion of the sale, the insider now directly owns 205,821 shares of the company’s stock, valued at approximately $15,918,196.14. This represents a 2.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the transaction, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,459 shares of company stock worth $3,811,808 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Nasdaq 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.