Mastercard Incorporated (NYSE:MA) Position Cut by CI Investments Inc.

CI Investments Inc. reduced its position in Mastercard Incorporated (NYSE:MAGet Rating) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,713,138 shares of the credit services provider’s stock after selling 258,169 shares during the quarter. Mastercard comprises approximately 2.5% of CI Investments Inc.’s portfolio, making the stock its 4th biggest position. CI Investments Inc. owned approximately 0.18% of Mastercard worth $540,461,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MA. Guardian Capital Advisors LP raised its position in Mastercard by 0.6% in the 2nd quarter. Guardian Capital Advisors LP now owns 13,934 shares of the credit services provider’s stock valued at $4,529,000 after purchasing an additional 82 shares during the last quarter. Varma Mutual Pension Insurance Co raised its holdings in shares of Mastercard by 212.9% in the second quarter. Varma Mutual Pension Insurance Co now owns 92,174 shares of the credit services provider’s stock valued at $29,079,000 after buying an additional 62,718 shares during the last quarter. Payden & Rygel boosted its stake in shares of Mastercard by 10.7% during the second quarter. Payden & Rygel now owns 5,160 shares of the credit services provider’s stock worth $1,628,000 after buying an additional 500 shares during the period. Crescent Park Management L.P. grew its holdings in shares of Mastercard by 1.3% during the second quarter. Crescent Park Management L.P. now owns 3,955 shares of the credit services provider’s stock worth $1,248,000 after buying an additional 50 shares during the last quarter. Finally, Bell Asset Management Ltd grew its holdings in shares of Mastercard by 1.9% during the second quarter. Bell Asset Management Ltd now owns 39,136 shares of the credit services provider’s stock worth $12,347,000 after buying an additional 716 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 177,211 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $318.14, for a total transaction of $56,377,907.54. Following the completion of the transaction, the insider now owns 102,211,625 shares of the company’s stock, valued at $32,517,606,377.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mastercard news, major shareholder Foundation Mastercard sold 177,211 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $318.14, for a total value of $56,377,907.54. Following the transaction, the insider now directly owns 102,211,625 shares in the company, valued at approximately $32,517,606,377.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 7,064 shares of Mastercard stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $320.00, for a total transaction of $2,260,480.00. Following the sale, the insider now owns 11,207 shares of the company’s stock, valued at $3,586,240. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,486 shares of company stock valued at $115,326,414. 0.29% of the stock is owned by corporate insiders.

Mastercard Price Performance

NYSE:MA traded up $3.68 during mid-day trading on Thursday, hitting $348.64. 1,937,368 shares of the company’s stock traded hands, compared to its average volume of 3,095,233. Mastercard Incorporated has a 1 year low of $276.87 and a 1 year high of $399.92. The company has a market cap of $335.20 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50 day simple moving average is $311.98 and its 200 day simple moving average is $328.23.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 9th. Investors of record on Friday, October 7th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 0.56%. Mastercard’s dividend payout ratio is currently 19.58%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MA shares. Keefe, Bruyette & Woods decreased their price objective on Mastercard from $445.00 to $388.00 in a research report on Monday, October 10th. StockNews.com assumed coverage on shares of Mastercard in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Moffett Nathanson cut their price objective on shares of Mastercard to $420.00 in a research report on Tuesday, November 1st. Barclays reduced their target price on shares of Mastercard from $430.00 to $428.00 and set an “overweight” rating for the company in a research note on Monday, October 31st. Finally, Mizuho dropped their price target on shares of Mastercard from $385.00 to $380.00 and set a “buy” rating on the stock in a research note on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $396.35.

Mastercard Profile

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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 other payment-related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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