Meitav Investment House Ltd. boosted its position in Mastercard Incorporated (NYSE:MA – Free Report) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,922 shares of the credit services provider’s stock after acquiring an additional 8,140 shares during the period. Meitav Investment House Ltd.’s holdings in Mastercard were worth $40,420,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Mastercard by 820.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 46 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Strive Financial Group LLC acquired a new stake in Mastercard during the 4th quarter worth approximately $27,000. Hyposwiss Advisors SA acquired a new position in shares of Mastercard during the fourth quarter worth about $29,000. First Pacific Financial grew its position in Mastercard by 113.8% in the first quarter. First Pacific Financial now owns 62 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC increased its position in shares of Mastercard by 54.1% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 57 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 20 shares during the last quarter. 97.28% of the stock is owned by institutional investors.
Mastercard Stock Up 0.6%
MA traded up $3.35 during midday trading on Tuesday, hitting $536.45. The company had a trading volume of 1,537,273 shares, compared to its average volume of 3,859,862. The stock’s 50 day moving average price is $497.92 and its 200 day moving average price is $518.61. The company has a market capitalization of $474.00 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56. Mastercard Incorporated has a 52 week low of $464.52 and a 52 week high of $601.77.
Mastercard Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 9th. Mastercard’s payout ratio is currently 20.14%.
Insider Transactions at Mastercard
In related news, insider Raj Seshadri sold 1,977 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $529.73, for a total value of $1,047,276.21. Following the completion of the sale, the insider directly owned 16,429 shares of the company’s stock, valued at approximately $8,702,934.17. This represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on MA. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore reissued a “negative” rating on shares of Mastercard in a report on Tuesday, March 17th. TD Cowen reduced their price objective on Mastercard from $671.00 to $664.00 and set a “buy” rating on the stock in a research note on Tuesday. Truist Financial decreased their target price on shares of Mastercard from $590.00 to $561.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $679.00 target price on shares of Mastercard in a research report on Friday, May 1st. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus target price of $654.31.
View Our Latest Research Report on Mastercard
Mastercard Profile
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.
Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.
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