Main Street Research LLC Raises Holdings in Mastercard Inc (NYSE:MA)

Main Street Research LLC grew its position in shares of Mastercard Inc (NYSE:MA) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,611 shares of the credit services provider’s stock after purchasing an additional 3,136 shares during the quarter. Main Street Research LLC’s holdings in Mastercard were worth $11,300,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MA. Calamos Advisors LLC boosted its holdings in Mastercard by 3.9% in the 3rd quarter. Calamos Advisors LLC now owns 376,160 shares of the credit services provider’s stock valued at $102,154,000 after purchasing an additional 14,040 shares in the last quarter. Harvey Investment Co. LLC boosted its holdings in Mastercard by 1.6% in the 3rd quarter. Harvey Investment Co. LLC now owns 37,560 shares of the credit services provider’s stock valued at $10,200,000 after purchasing an additional 575 shares in the last quarter. Baxter Bros Inc. boosted its holdings in Mastercard by 10.8% in the 3rd quarter. Baxter Bros Inc. now owns 30,375 shares of the credit services provider’s stock valued at $8,249,000 after purchasing an additional 2,951 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in Mastercard by 0.8% in the 3rd quarter. Calamos Wealth Management LLC now owns 19,530 shares of the credit services provider’s stock valued at $5,304,000 after purchasing an additional 164 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its holdings in Mastercard by 2.6% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 12,957 shares of the credit services provider’s stock valued at $3,519,000 after purchasing an additional 332 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on MA. Nomura lifted their price target on shares of Mastercard from $282.00 to $324.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. SunTrust Banks lifted their price target on shares of Mastercard from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Raymond James lifted their price target on shares of Mastercard from $300.00 to $308.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Citigroup lifted their price target on shares of Mastercard from $288.00 to $317.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, William Blair reiterated an “outperform” rating on shares of Mastercard in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $299.09.

MA stock traded up $3.67 during midday trading on Monday, hitting $274.30. The stock had a trading volume of 2,907,557 shares, compared to its average volume of 3,228,230. The firm has a market cap of $280.54 billion, a PE ratio of 42.27, a price-to-earnings-growth ratio of 2.30 and a beta of 1.06. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.49 and a quick ratio of 1.49. Mastercard Inc has a 12-month low of $171.89 and a 12-month high of $293.69. The company’s 50-day moving average price is $275.93 and its 200 day moving average price is $263.97.

Mastercard (NYSE:MA) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. Mastercard’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 EPS. As a group, sell-side analysts anticipate that Mastercard Inc will post 7.61 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $1.32 annualized dividend and a yield of 0.48%. Mastercard’s payout ratio is currently 20.34%.

In other Mastercard news, major shareholder Foundation Mastercard sold 7,542 shares of Mastercard stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $278.16, for a total value of $2,097,882.72. Following the completion of the sale, the insider now directly owns 112,015,230 shares of the company’s stock, valued at approximately $31,158,156,376.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard K. Davis bought 1,735 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $270.09 per share, with a total value of $468,606.15. Following the completion of the purchase, the director now directly owns 6,031 shares in the company, valued at approximately $1,628,912.79. The disclosure for this purchase can be found here. Insiders sold a total of 131,377 shares of company stock valued at $36,117,135 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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