OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Holdings in Mastercard Incorporated $MA

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 32.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,440 shares of the credit services provider’s stock after selling 17,227 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Mastercard were worth $19,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Accredited Investors Inc. grew its holdings in shares of Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 18 shares in the last quarter. Wealthstream Advisors Inc. grew its holdings in shares of Mastercard by 2.9% during the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock worth $347,000 after purchasing an additional 18 shares in the last quarter. KRS Capital Management LLC boosted its stake in Mastercard by 0.6% in the second quarter. KRS Capital Management LLC now owns 2,848 shares of the credit services provider’s stock worth $1,601,000 after buying an additional 18 shares in the last quarter. Pinion Investment Advisors LLC boosted its stake in Mastercard by 0.8% in the second quarter. Pinion Investment Advisors LLC now owns 2,272 shares of the credit services provider’s stock worth $1,276,000 after buying an additional 18 shares in the last quarter. Finally, Nvest Financial LLC boosted its stake in Mastercard by 1.2% in the second quarter. Nvest Financial LLC now owns 1,505 shares of the credit services provider’s stock worth $846,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $573.72 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. The stock has a 50 day moving average price of $579.51 and a two-hundred day moving average price of $566.36. The company has a market capitalization of $518.65 billion, a P/E ratio of 38.69, a PEG ratio of 2.35 and a beta of 0.97.

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. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. Analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued 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%.

Analysts Set New Price Targets

Several analysts have issued reports on MA shares. Robert W. Baird upped their target price on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Royal Bank Of Canada upped their target price on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Truist Financial set a $638.00 target price on Mastercard in a research note on Friday. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $665.00 target price on shares of Mastercard in a research note on Wednesday, October 22nd. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $638.96.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 owned 31,234 shares in the company, valued at $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.