Zions Bancorporation National Association UT grew its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 60.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,008 shares of the credit services provider’s stock after purchasing an additional 2,267 shares during the period. Zions Bancorporation National Association UT’s holdings in Mastercard were worth $3,086,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Troy Asset Management Ltd increased its position in shares of Mastercard by 8.0% during the second quarter. Troy Asset Management Ltd now owns 138,720 shares of the credit services provider’s stock valued at $71,247,000 after acquiring an additional 10,273 shares during the last quarter. Code Waechter LLC boosted its position in shares of Mastercard by 29.5% during the 2nd quarter. Code Waechter LLC now owns 1,001 shares of the credit services provider’s stock worth $514,000 after purchasing an additional 228 shares during the period. Granite Harbor Advisors Inc. boosted its position in shares of Mastercard by 4.0% during the 2nd quarter. Granite Harbor Advisors Inc. now owns 2,085 shares of the credit services provider’s stock worth $1,071,000 after purchasing an additional 80 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Mastercard by 7.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 188,121 shares of the credit services provider’s stock worth $96,619,000 after purchasing an additional 13,259 shares during the period. Finally, Kerusso Capital Management LLC increased its holdings in Mastercard by 23.4% in the 2nd quarter. Kerusso Capital Management LLC now owns 7,766 shares of the credit services provider’s stock valued at $3,989,000 after purchasing an additional 1,475 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on MA. Weiss Ratings upgraded Mastercard from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Keefe, Bruyette & Woods lifted their price objective on Mastercard from $665.00 to $685.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Cantor Fitzgerald boosted their price objective on Mastercard from $650.00 to $695.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Susquehanna decreased their target price on Mastercard from $670.00 to $665.00 and set a “positive” rating on the stock in a research note on Friday, May 1st. Finally, UBS Group raised their target price on Mastercard from $640.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus price target of $661.93.
Insider Buying and Selling
In other news, insider J. Mehra Sachin sold 7,444 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $577.13, for a total value of $4,296,155.72. Following the completion of the sale, the insider directly owned 40,916 shares of the company’s stock, valued at approximately $23,613,851.08. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandra A. Arkell sold 200 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $540.00, for a total value of $108,000.00. Following the completion of the sale, the insider directly owned 3,322 shares of the company’s stock, valued at approximately $1,793,880. This trade represents a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,357 shares of company stock valued at $40,637,262 over the last ninety days. Company insiders own 0.09% of the company’s stock.
Mastercard Price Performance
Shares of NYSE MA opened at $599.69 on Tuesday. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $525.34 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.74 and a beta of 0.71. The stock’s 50-day moving average is $540.98 and its two-hundred day moving average is $518.14. Mastercard Incorporated has a 1-year low of $464.52 and a 1-year high of $601.62.
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.27. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.15 EPS. Analysts forecast that Mastercard Incorporated will post 19.86 EPS for the current fiscal year.
Mastercard Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were given a $0.87 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. Mastercard’s payout ratio is 19.14%.
About Mastercard
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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