Broderick Brian C Sells 2,099 Shares of Mastercard Incorporated $MA

Broderick Brian C reduced its position in Mastercard Incorporated (NYSE:MA) by 5.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 36,762 shares of the credit services provider’s stock after selling 2,099 shares during the period. Mastercard makes up about 4.1% of Broderick Brian C’s portfolio, making the stock its 5th largest position. Broderick Brian C’s holdings in Mastercard were worth $20,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Family Legacy Financial Solutions LLC bought a new stake in Mastercard in the 2nd quarter valued at $26,000. Flaharty Asset Management LLC bought a new position in Mastercard during the first quarter worth $27,000. Keystone Global Partners LLC acquired a new position in shares of Mastercard in the first quarter valued at $31,000. Hughes Financial Services LLC bought a new position in shares of Mastercard in the first quarter valued at about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $44,000. Institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

Mastercard Trading Up 0.1%

Shares of MA stock opened at $579.24 on Wednesday. The stock has a market cap of $523.64 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. 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 50 day simple moving average of $580.78 and a 200 day simple moving average of $562.45.

Mastercard (NYSE:MA) last announced its quarterly earnings data 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. The firm had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.50 EPS. On average, research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard’s dividend payout ratio is currently 20.50%.

Wall Street Analyst Weigh In

MA has been the topic of a number of research reports. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Wells Fargo & Company upped their target price on Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wolfe Research set a $655.00 target price on Mastercard in a research note on Monday, June 23rd. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $634.04.

About Mastercard

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.