Progressive Investment Management Corp Sells 408 Shares of Mastercard Incorporated (NYSE:MA)

Progressive Investment Management Corp cut its stake in Mastercard Incorporated (NYSE:MA) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,613 shares of the credit services provider’s stock after selling 408 shares during the quarter. Mastercard accounts for about 2.9% of Progressive Investment Management Corp’s investment portfolio, making the stock its 14th largest holding. Progressive Investment Management Corp’s holdings in Mastercard were worth $10,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV grew its stake in shares of Mastercard by 641.9% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,027 shares of the credit services provider’s stock worth $1,659,000 after acquiring an additional 2,619 shares during the period. Redmond Asset Management LLC grew its stake in shares of Mastercard by 1.1% in the first quarter. Redmond Asset Management LLC now owns 6,606 shares of the credit services provider’s stock worth $3,621,000 after acquiring an additional 72 shares during the period. Ethic Inc. grew its stake in shares of Mastercard by 5.6% in the first quarter. Ethic Inc. now owns 90,844 shares of the credit services provider’s stock worth $49,829,000 after acquiring an additional 4,810 shares during the period. Martin Currie Ltd. grew its stake in shares of Mastercard by 2.5% in the first quarter. Martin Currie Ltd. now owns 161,364 shares of the credit services provider’s stock worth $88,447,000 after acquiring an additional 3,885 shares during the period. Finally, Horizon Investments LLC grew its stake in shares of Mastercard by 12.4% in the first quarter. Horizon Investments LLC now owns 4,019 shares of the credit services provider’s stock worth $2,199,000 after acquiring an additional 443 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Insider Activity at Mastercard

In other news, insider Linda Pistecchia Kirkpatrick sold 959 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $572.86, for a total value of $549,372.74. Following the transaction, the insider owned 25,540 shares of the company’s stock, valued at approximately $14,630,844.40. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Vosburg sold 14,051 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the completion of the sale, the insider owned 58,451 shares in the company, valued at $34,196,757.55. This represents a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,453 shares of company stock worth $20,178,667 over the last ninety days. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MA shares. Wolfe Research set a $655.00 price target on shares of Mastercard in a research note on Monday, June 23rd. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Truist Financial reduced their price target on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Finally, Citigroup raised their price objective on shares of Mastercard from $650.00 to $652.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus price target of $617.93.

Mastercard Price Performance

MA stock opened at $582.06 on Friday. Mastercard Incorporated has a one year low of $461.90 and a one year high of $594.71. The company’s fifty day moving average price is $563.30 and its 200-day moving average price is $554.64. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $526.19 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.03.

Mastercard (NYSE:MA) last released its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the firm earned $3.50 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard’s payout ratio is 20.50%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.