Penobscot Investment Management Company Inc. Sells 1,830 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Penobscot Investment Management Company Inc. lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 4.7% during the fourth quarter, Holdings Channel reports. The firm owned 37,173 shares of the financial services provider’s stock after selling 1,830 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Nasdaq were worth $2,874,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NDAQ. Murphy & Mullick Capital Management Corp purchased a new position in Nasdaq during the 4th quarter worth $43,000. Congress Wealth Management LLC DE boosted its holdings in Nasdaq by 3.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 7,464 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 270 shares during the last quarter. Vanguard Group Inc. grew its position in Nasdaq by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider’s stock worth $4,064,682,000 after purchasing an additional 376,893 shares in the last quarter. Stevens Capital Management LP increased its stake in Nasdaq by 33.2% in the 4th quarter. Stevens Capital Management LP now owns 7,208 shares of the financial services provider’s stock valued at $557,000 after buying an additional 1,797 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Nasdaq by 17.9% during the 4th quarter. LPL Financial LLC now owns 441,271 shares of the financial services provider’s stock worth $34,115,000 after buying an additional 66,968 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity

In other news, EVP Sarah Youngwood sold 14,959 shares of Nasdaq stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the sale, the executive vice president now owns 59,694 shares in the company, valued at approximately $4,398,253.92. This trade represents a 20.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bryan Everard Smith sold 3,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $81.56, for a total value of $285,460.00. Following the transaction, the executive vice president now directly owns 55,576 shares of the company’s stock, valued at $4,532,778.56. The trade was a 5.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NDAQ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Nasdaq in a report on Thursday, January 30th. UBS Group raised their target price on Nasdaq from $79.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Nasdaq from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $98.00 in a research report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.88.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $77.67 on Wednesday. Nasdaq, Inc. has a 52-week low of $58.10 and a 52-week high of $84.15. The business’s fifty day moving average is $79.23 and its 200 day moving average is $77.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.12 and a beta of 0.96.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. Research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, March 14th. Nasdaq’s payout ratio is 50.00%.

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.