Massmutual Trust Co. FSB ADV Sells 448 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Massmutual Trust Co. FSB ADV cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,641 shares of the financial services provider’s stock after selling 448 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Nasdaq were worth $340,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NDAQ. Salem Investment Counselors Inc. boosted its holdings in Nasdaq by 89.3% in the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Nasdaq in the fourth quarter worth approximately $29,000. LRI Investments LLC purchased a new position in Nasdaq during the 1st quarter worth $31,000. Allworth Financial LP boosted its position in Nasdaq by 74.9% during the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 349 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Nasdaq by 6,408.3% in the 1st quarter. EntryPoint Capital LLC now owns 781 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 769 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Down 3.7 %

Shares of Nasdaq stock traded down $2.46 during trading hours on Monday, hitting $64.40. 3,940,382 shares of the company’s stock traded hands, compared to its average volume of 3,039,280. The company has a market cap of $37.04 billion, a PE ratio of 35.19, a PEG ratio of 2.72 and a beta of 0.94. Nasdaq, Inc. has a twelve month low of $46.88 and a twelve month high of $70.01. The stock has a 50 day simple moving average of $61.46 and a 200-day simple moving average of $60.20. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts anticipate that Nasdaq, Inc. will post 2.73 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.49%. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NDAQ. Oppenheimer upped their target price on Nasdaq from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Rosenblatt Securities downgraded Nasdaq from a “buy” rating to a “neutral” rating and reduced their target price for the company from $76.00 to $64.00 in a report on Wednesday, May 8th. StockNews.com downgraded Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, Morgan Stanley upgraded Nasdaq from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $80.00 in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

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.