Massachusetts Financial Services Co. MA Reduces Stock Holdings in Nasdaq, Inc. $NDAQ

by · The Cerbat Gem

Massachusetts Financial Services Co. MA cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 3.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,368,803 shares of the financial services provider’s stock after selling 905,817 shares during the quarter. Nasdaq comprises 0.7% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 23rd largest position. Massachusetts Financial Services Co. MA owned 4.62% of Nasdaq worth $2,332,321,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC raised its position in shares of Nasdaq by 2.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 110 shares during the last quarter. Leavell Investment Management Inc. increased its stake in Nasdaq by 0.4% during the 2nd quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 116 shares in the last quarter. Fielder Capital Group LLC increased its stake in Nasdaq by 3.0% during the 2nd quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 122 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in shares of Nasdaq by 2.3% in the second quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock worth $508,000 after buying an additional 128 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its stake in shares of Nasdaq by 3.4% during the second quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock worth $355,000 after buying an additional 129 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Trading Up 0.6%

Nasdaq stock opened at $100.98 on Friday. The firm has a market cap of $57.66 billion, a PE ratio of 36.06, a P/E/G ratio of 1.52 and a beta of 1.01. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $101.79. The stock’s 50 day simple moving average is $93.45 and its two-hundred day simple moving average is $92.02. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business posted $0.74 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. Analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.27 per share. The ex-dividend date was Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Nasdaq’s dividend payout ratio (DPR) is 38.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NDAQ shares. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Thursday, October 9th. JPMorgan Chase & Co. raised their price objective on Nasdaq from $111.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Cowen reiterated a “hold” rating on shares of Nasdaq in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $100.00 price objective (up from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and an average target price of $103.67.

View Our Latest Stock Analysis on Nasdaq

Insider Activity at Nasdaq

In related news, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the transaction, the executive vice president owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adena T. Friedman sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $96.39, for a total value of $28,917,000.00. Following the completion of the sale, the chief executive officer directly owned 1,924,903 shares in the company, valued at approximately $185,541,400.17. The trade was a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 306,605 shares of company stock worth $29,546,812 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Company Profile

(Free Report)

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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