Douglas Lane & Associates LLC Trims Stock Holdings in Mastercard Incorporated $MA

Douglas Lane & Associates LLC decreased its position in Mastercard Incorporated (NYSE:MA) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,105 shares of the credit services provider’s stock after selling 16,145 shares during the period. Mastercard makes up about 1.6% of Douglas Lane & Associates LLC’s portfolio, making the stock its 13th biggest holding. Douglas Lane & Associates LLC’s holdings in Mastercard were worth $107,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flaharty Asset Management LLC acquired a new stake in Mastercard during the 1st quarter worth about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the 1st quarter worth about $31,000. 10Elms LLP acquired a new stake in Mastercard during the 4th quarter worth about $33,000. Hughes Financial Services LLC acquired a new stake in Mastercard during the 1st quarter worth about $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Mastercard during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen reaffirmed a “buy” rating and set a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Morgan Stanley raised their target price on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Truist Financial dropped their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $626.54.

Insider Buying and Selling

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julius Genachowski sold 312 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director owned 8,469 shares in the company, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,094 shares of company stock worth $26,521,861 in the last quarter. 0.09% of the stock is owned by insiders.

Mastercard Trading Down 1.4%

MA stock opened at $580.75 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The stock has a market cap of $525.00 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 2.41 and a beta of 0.99. The business’s 50-day moving average is $574.60 and its 200 day moving average is $558.33.

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

Mastercard Dividend Announcement

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

About Mastercard

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.