Addenda Capital Inc. Reduces Stock Position in Mastercard Incorporated $MA

Addenda Capital Inc. trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,865 shares of the credit services provider’s stock after selling 89 shares during the period. Addenda Capital Inc.’s holdings in Mastercard were worth $8,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in MA. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard during the 2nd quarter worth approximately $26,000. Flaharty Asset Management LLC acquired a new stake in Mastercard during the 1st quarter worth $27,000. Keystone Global Partners LLC purchased a new stake in Mastercard in the first quarter valued at $31,000. Hughes Financial Services LLC purchased a new position in shares of Mastercard during the first quarter worth about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Mastercard in the 1st quarter valued at about $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on MA. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday, June 6th. UBS Group upped their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Truist Financial reduced their target price 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. TD Cowen reissued a “buy” rating and set a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $630.89.

Insider Buying and Selling at Mastercard

In other news, Director Julius Genachowski sold 312 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the transaction, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. This represents a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $560.00, for a total transaction of $536,480.00. Following the sale, the insider directly owned 23,624 shares of the company’s stock, valued at $13,229,440. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,349 shares of company stock worth $21,372,994 in the last 90 days. 0.09% of the stock is owned by company insiders.

Mastercard Stock Down 0.3%

MA stock opened at $565.63 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50 day simple moving average is $579.00 and its 200-day simple moving average is $560.29. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The firm has a market capitalization of $511.34 billion, a PE ratio of 38.14, a P/E/G ratio of 2.32 and a beta of 0.99.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share 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 during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the business posted $3.50 earnings per share. Mastercard’s revenue was up 16.8% compared to the same quarter last year. Equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio (DPR) 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.