Martingale Asset Management L P reduced its stake in Mastercard Incorporated (NYSE:MA) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 331,798 shares of the credit services provider’s stock after selling 18,260 shares during the period. Martingale Asset Management L P’s holdings in Mastercard were worth $37,318,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MA. Abbrea Capital LLC boosted its position in shares of Mastercard by 5.2% in the first quarter. Abbrea Capital LLC now owns 2,038 shares of the credit services provider’s stock worth $229,000 after buying an additional 100 shares in the last quarter. Friedberg Investment Management bought a new stake in Mastercard during the first quarter worth approximately $1,156,000. Baird Financial Group Inc. raised its stake in Mastercard by 12.0% in the first quarter. Baird Financial Group Inc. now owns 408,739 shares of the credit services provider’s stock worth $45,971,000 after buying an additional 43,842 shares during the last quarter. Motley Fool Asset Management LLC bought a new stake in Mastercard during the first quarter worth approximately $6,242,000. Finally, Oxford Asset Management bought a new stake in Mastercard during the first quarter worth approximately $2,156,000. Hedge funds and other institutional investors own 75.76% of the company’s stock.
Mastercard Incorporated (MA) opened at 129.72 on Thursday. The firm has a market cap of $138.14 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17. Mastercard Incorporated has a 12 month low of $94.41 and a 12 month high of $132.20. The stock has a 50 day moving average price of $124.99 and a 200 day moving average price of $116.49.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. On average, equities analysts expect that Mastercard Incorporated will post $4.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, July 7th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, July 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. Mastercard’s dividend payout ratio is currently 21.78%.
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A number of analysts recently commented on MA shares. BidaskClub raised Mastercard from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Citigroup Inc. raised their price target on Mastercard from $123.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. Zacks Investment Research lowered Mastercard from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. Vetr lowered Mastercard from a “hold” rating to a “sell” rating and set a $115.30 price target on the stock. in a research note on Monday, May 22nd. Finally, BMO Capital Markets raised their price target on Mastercard from $126.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Mastercard currently has a consensus rating of “Buy” and a consensus target price of $128.20.
In related news, major shareholder Foundation Mastercard sold 29,206 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $127.63, for a total value of $3,727,561.78. Following the sale, the insider now owns 112,649,063 shares in the company, valued at approximately $14,377,399,910.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martina Hundmejean sold 91,107 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the sale, the chief financial officer now owns 170,570 shares in the company, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. Insiders have sold 762,845 shares of company stock worth $98,241,535 in the last quarter. Company insiders own 0.30% of the company’s stock.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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