AMI Asset Management Corp Has $43.04 Million Holdings in Mastercard Incorporated $MA

AMI Asset Management Corp cut its stake in Mastercard Incorporated (NYSE:MA) by 4.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 76,589 shares of the credit services provider’s stock after selling 3,637 shares during the quarter. Mastercard makes up about 2.5% of AMI Asset Management Corp’s holdings, making the stock its 21st biggest holding. AMI Asset Management Corp’s holdings in Mastercard were worth $43,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard during the 2nd quarter valued at $26,000. Flaharty Asset Management LLC acquired a new stake in Mastercard during the 1st quarter valued at $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the 1st quarter valued at $31,000. Hughes Financial Services LLC acquired a new stake in Mastercard during the 1st quarter valued at $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard during the 1st quarter valued at $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MA. TD Cowen reaffirmed a “buy” rating and set a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Wolfe Research set a $655.00 price objective on Mastercard in a research report on Monday, June 23rd. KeyCorp increased their price objective on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Truist Financial decreased their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $630.89.

Insider Buying and Selling at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of the firm’s stock in a transaction 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 sale, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,391 shares of company stock worth $20,836,514 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Up 1.0%

NYSE:MA opened at $574.40 on Thursday. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $519.26 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.33 and a beta of 0.97. The stock’s fifty day simple moving average is $579.73 and its 200-day simple moving average is $561.01.

Mastercard (NYSE:MA) last posted its quarterly earnings results 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 business had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the company earned $3.50 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. Equities research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.50%.

Mastercard 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.