General Partner Inc. trimmed its position in Mastercard Incorporated (NYSE:MA – Free Report) by 15.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,503 shares of the credit services provider’s stock after selling 1,150 shares during the quarter. Mastercard makes up 2.0% of General Partner Inc.’s portfolio, making the stock its 10th biggest position. General Partner Inc.’s holdings in Mastercard were worth $3,586,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Border to Coast Pensions Partnership Ltd grew its stake in shares of Mastercard by 7.3% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 139,844 shares of the credit services provider’s stock worth $70,089,000 after acquiring an additional 9,504 shares during the last quarter. Charles Lim Capital Ltd purchased a new position in shares of Mastercard in the 4th quarter valued at approximately $15,699,000. Gamco Investors INC. ET AL grew its position in Mastercard by 5.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider’s stock worth $14,093,000 after purchasing an additional 1,434 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Mastercard by 105.1% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 12,834 shares of the credit services provider’s stock valued at $6,412,000 after purchasing an additional 6,576 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its stake in Mastercard by 50.1% during the 1st quarter. SteelPeak Wealth LLC now owns 14,003 shares of the credit services provider’s stock valued at $6,996,000 after purchasing an additional 4,675 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on MA. BNP Paribas Exane lifted their price objective on shares of Mastercard from $680.00 to $713.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Clear Str raised Mastercard to a “strong-buy” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their price objective on Mastercard from $655.00 to $720.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wolfe Research raised their price objective on Mastercard from $680.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Finally, UBS Group lifted their target price on Mastercard from $640.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $680.00.
Insider Buying and Selling at Mastercard
In other Mastercard news, insider Sachin Mehra sold 7,444 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $577.13, for a total transaction of $4,296,155.72. Following the sale, the insider directly owned 40,916 shares in the company, valued at $23,613,851.08. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Linda Kirkpatrick sold 4,280 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $570.31, for a total transaction of $2,440,926.80. Following the completion of the transaction, the insider directly owned 31,179 shares of the company’s stock, valued at $17,781,695.49. This represents a 12.07% decrease in their position. 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 67,618 shares of company stock valued at $38,854,630 in the last three months. 0.09% of the stock is owned by corporate insiders.
Mastercard Price Performance
Mastercard stock traded up $11.38 during trading on Monday, reaching $563.64. The company had a trading volume of 1,032,310 shares, compared to its average volume of 3,529,960. The firm has a market capitalization of $493.76 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.58 and a beta of 0.76. The firm’s 50-day simple moving average is $571.56 and its 200 day simple moving average is $528.68. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.06 and a current ratio of 1.06. Mastercard Incorporated has a 1-year low of $464.52 and a 1-year high of $601.23.
Mastercard (NYSE:MA – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, topping the consensus estimate of $4.77 by $0.27. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.15 earnings per share. As a group, equities research analysts anticipate that Mastercard Incorporated will post 19.9 earnings per share for the current fiscal year.
Mastercard Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be paid 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 is Friday, October 9th. Mastercard’s dividend payout ratio is 19.14%.
Mastercard Profile
Mastercard Incorporated (NYSE: MA) is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses. The company facilitates the authorization, clearing and settlement of electronic payment transactions, while generally not issuing cards or extending credit itself. Its network supports payments made in stores, online and through mobile devices.
Mastercard’s products and services include consumer and commercial payment cards, digital payment solutions, payment processing, fraud prevention, cybersecurity, identity verification, data and analytics, and open banking tools.
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