Somerville Kurt F purchased a new stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 25,580 shares of the credit services provider’s stock, valued at approximately $13,138,000. Mastercard comprises approximately 3.1% of Somerville Kurt F’s portfolio, making the stock its 10th biggest holding.
Several other institutional investors have also recently added to or reduced their stakes in the business. J. Stern & Co. LLP raised its holdings in shares of Mastercard by 53,535.0% during the fourth quarter. J. Stern & Co. LLP now owns 72,597,097 shares of the credit services provider’s stock worth $41,444,231,000 after purchasing an additional 72,461,743 shares during the period. Norges Bank bought a new stake in shares of Mastercard during the 4th quarter valued at about $6,705,708,000. Cardano Risk Management B.V. raised its stake in Mastercard by 861.6% during the fourth quarter. Cardano Risk Management B.V. now owns 4,072,210 shares of the credit services provider’s stock worth $2,324,743,000 after acquiring an additional 3,648,748 shares during the period. State Street Corp raised its stake in Mastercard by 2.8% during the third quarter. State Street Corp now owns 36,580,374 shares of the credit services provider’s stock worth $20,807,283,000 after acquiring an additional 997,536 shares during the period. Finally, Cibc World Markets Corp bought a new position in Mastercard in the fourth quarter worth about $497,311,000. Institutional investors own 97.28% of the company’s stock.
Insider Transactions at Mastercard
In other Mastercard news, insider Sandra A. Arkell sold 200 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $540.00, for a total transaction of $108,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 15,372 shares of Mastercard stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $575.00, for a total value of $8,838,900.00. Following the transaction, the chief executive officer owned 93,693 shares in the company, valued at approximately $53,873,475. This trade represents a 14.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,357 shares of company stock valued at $40,637,262 over the last three months. 0.09% of the stock is owned by company insiders.
Mastercard Price Performance
Mastercard (NYSE:MA – Get Free Report) last announced its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.77 by $0.27. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the firm posted $4.15 EPS. Mastercard’s revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Mastercard Incorporated will post 19.86 EPS for the current year.
Mastercard Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard’s dividend payout ratio is 19.14%.
Wall Street Analyst Weigh In
MA has been the topic of a number of recent research reports. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $701.00 target price on shares of Mastercard in a research note on Thursday, July 30th. Truist Financial upped their target price on shares of Mastercard from $554.00 to $633.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Raymond James Financial restated an “outperform” rating and issued a $632.00 price target on shares of Mastercard in a research note on Friday, July 31st. Finally, Piper Sandler began coverage on Mastercard in a report on Monday, June 29th. They set an “overweight” rating and a $597.00 price target on the stock. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mastercard currently has a consensus rating of “Buy” and a consensus target price of $664.71.
View Our Latest Research Report on MA
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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