Nasdaq, Inc. Plans Quarterly Dividend of $0.24 (NASDAQ:NDAQ)

Nasdaq, Inc. (NASDAQ:NDAQ) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.24 per share by the financial services provider on Friday, December 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, December 6th.

Nasdaq has raised its dividend payment by an average of 10.0% per year over the last three years and has increased its dividend every year for the last 13 years. Nasdaq has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nasdaq to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 31.0%.

Nasdaq Trading Up 1.8 %

NASDAQ:NDAQ opened at $75.24 on Friday. The stock has a fifty day moving average price of $72.46 and a 200 day moving average price of $65.60. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. Nasdaq has a 12-month low of $47.56 and a 12-month high of $75.58. The firm has a market cap of $43.33 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 3.09 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Sell-side analysts anticipate that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Bank of America cut their target price on Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Oppenheimer upped their price target on Nasdaq from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Insiders Place Their Bets

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the sale, the insider now directly owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

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.