Patten & Patten Inc. TN Sells 194 Shares of Mastercard Incorporated $MA

Patten & Patten Inc. TN lowered its position in Mastercard Incorporated (NYSE:MA) by 3.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,465 shares of the credit services provider’s stock after selling 194 shares during the period. Patten & Patten Inc. TN’s holdings in Mastercard were worth $3,071,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MA. Family Legacy Financial Solutions LLC bought a new stake in shares of Mastercard in the 2nd quarter valued at $26,000. Flaharty Asset Management LLC bought a new stake in shares of Mastercard in the 1st quarter valued at $27,000. Keystone Global Partners LLC bought a new stake in shares of Mastercard in the 1st quarter valued at $31,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard in the 1st quarter valued at $34,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Mastercard in the 1st quarter valued at $44,000. Institutional investors own 97.28% of the company’s stock.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,816 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a report on Thursday, July 17th. They set a “buy” rating and a $650.00 target price for the company. TD Cowen restated a “buy” rating and issued a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Finally, Robert W. Baird boosted their target price on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $634.04.

Mastercard Trading Down 0.8%

Mastercard stock opened at $563.30 on Thursday. The firm has a 50-day moving average of $580.71 and a 200-day moving average of $563.06. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $509.23 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 2.33 and a beta of 0.97.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the business posted $3.50 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Mastercard Profile

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.