Penobscot Investment Management Company Inc. Has $2.87 Million Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Penobscot Investment Management Company Inc. decreased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,173 shares of the financial services provider’s stock after selling 1,830 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Nasdaq were worth $2,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NDAQ. Rakuten Securities Inc. acquired a new stake in Nasdaq during the fourth quarter worth approximately $26,000. Founders Capital Management bought a new position in shares of Nasdaq during the fourth quarter worth approximately $27,000. Kestra Investment Management LLC acquired a new stake in Nasdaq during the 4th quarter worth approximately $33,000. Raleigh Capital Management Inc. boosted its stake in Nasdaq by 106.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 225 shares during the period. Finally, TCTC Holdings LLC acquired a new position in Nasdaq in the 4th quarter valued at $41,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Price Performance

NDAQ stock opened at $77.67 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. 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. The company’s fifty day simple moving average is $79.23 and its 200 day simple moving average is $77.54. Nasdaq, Inc. has a 12-month low of $58.10 and a 12-month high of $84.15.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. On average, analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid 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 dividend payout ratio (DPR) is currently 50.00%.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Nasdaq from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $98.00 in a report on Wednesday, January 8th. Barclays dropped their price objective on shares of Nasdaq from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. Raymond James raised their target price on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One equities research 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. Based on data from MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and a consensus target price of $86.88.

About Nasdaq

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.