Mercer Global Advisors Inc. ADV Purchases 8,069 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV boosted its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Get Rating) by 17.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,289 shares of the financial services provider’s stock after purchasing an additional 8,069 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Nasdaq were worth $3,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cresset Asset Management LLC increased its holdings in Nasdaq by 4.5% in the first quarter. Cresset Asset Management LLC now owns 1,717 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 74 shares during the last quarter. Horizon Investments LLC increased its holdings in Nasdaq by 8.3% in the first quarter. Horizon Investments LLC now owns 1,120 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 86 shares during the last quarter. Brinker Capital Investments LLC increased its holdings in Nasdaq by 0.4% in the first quarter. Brinker Capital Investments LLC now owns 29,446 shares of the financial services provider’s stock valued at $5,247,000 after purchasing an additional 106 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Nasdaq by 1.7% in the first quarter. Advisors Asset Management Inc. now owns 7,142 shares of the financial services provider’s stock valued at $1,273,000 after purchasing an additional 120 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Nasdaq by 10.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,360 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 73.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley downgraded Nasdaq from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $70.00 to $60.00 in a report on Tuesday, April 11th. StockNews.com downgraded Nasdaq from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Rosenblatt Securities restated a “buy” rating and issued a $82.00 price target on shares of Nasdaq in a report on Thursday, April 20th. Piper Sandler lowered their price target on Nasdaq from $73.33 to $70.00 and set an “overweight” rating for the company in a report on Thursday, January 26th. Finally, Deutsche Bank Aktiengesellschaft cut Nasdaq from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $72.00 to $60.00 in a research report on Thursday, January 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Nasdaq has an average rating of “Hold” and an average price target of $63.67.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $57.06, for a total transaction of $342,360.00. Following the transaction, the executive vice president now owns 56,083 shares in the company, valued at approximately $3,200,095.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Jeremy Skule sold 2,100 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $57.93, for a total transaction of $121,653.00. Following the sale, the executive vice president now owns 70,467 shares of the company’s stock, valued at approximately $4,082,153.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bryan Everard Smith sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $57.06, for a total value of $342,360.00. Following the sale, the executive vice president now directly owns 56,083 shares in the company, valued at approximately $3,200,095.98. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ opened at $55.14 on Monday. The stock has a 50 day moving average price of $54.46 and a 200 day moving average price of $59.34. Nasdaq, Inc. has a 52 week low of $46.77 and a 52 week high of $69.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $27.06 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $910.06 million. Nasdaq had a return on equity of 22.15% and a net margin of 18.38%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Analysts predict that Nasdaq, Inc. will post 2.71 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.20. Nasdaq’s dividend payout ratio (DPR) is 38.26%.

About Nasdaq

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Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services.