Rossby Financial LCC Cuts Stock Holdings in Mastercard Incorporated $MA

Rossby Financial LCC trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,880 shares of the credit services provider’s stock after selling 74 shares during the quarter. Rossby Financial LCC’s holdings in Mastercard were worth $1,056,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Mastercard by 42.3% in the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after acquiring an additional 2,028 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Mastercard by 2.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,157 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 28 shares in the last quarter. Joel Isaacson & Co. LLC increased its holdings in Mastercard by 16.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 1,780 shares of the credit services provider’s stock worth $976,000 after acquiring an additional 249 shares in the last quarter. Sovran Advisors LLC increased its holdings in Mastercard by 10.6% in the 1st quarter. Sovran Advisors LLC now owns 2,445 shares of the credit services provider’s stock worth $1,265,000 after acquiring an additional 234 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC increased its holdings in Mastercard by 6.6% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 2,019 shares of the credit services provider’s stock worth $1,107,000 after acquiring an additional 125 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

Mastercard Trading Down 0.4%

Shares of MA stock opened at $571.51 on Tuesday. The company’s 50-day moving average price is $579.25 and its 200-day moving average price is $566.75. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The stock has a market cap of $516.65 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 2.35 and a beta of 0.97. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating 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 analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the company posted $3.50 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a $0.76 dividend. The ex-dividend date of this dividend 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 is presently 20.50%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MA shares. Morgan Stanley boosted their price target on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. KeyCorp reissued an “overweight” rating and issued a $665.00 price target on shares of Mastercard in a report on Wednesday, October 22nd. Wells Fargo & Company raised shares of Mastercard to a “strong-buy” rating in a report on Wednesday, October 22nd. Robert W. Baird lifted their target price on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, TD Cowen reaffirmed a “buy” rating and set a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Mastercard has an average rating of “Buy” and a consensus price target of $638.96.

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.