Penobscot Investment Management Company Inc. grew its position in Mastercard Inc (NYSE:MA) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,904 shares of the credit services provider’s stock after purchasing an additional 395 shares during the period. Mastercard comprises approximately 2.4% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 4th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Mastercard were worth $11,879,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC acquired a new position in Mastercard during the 2nd quarter worth approximately $26,000. Ellis Investment Partners LLC acquired a new stake in Mastercard during the 1st quarter valued at $30,000. Evolution Wealth Advisors LLC acquired a new stake in Mastercard during the 2nd quarter valued at $31,000. Delphi Private Advisors LLC acquired a new stake in Mastercard during the 2nd quarter valued at $31,000. Finally, Field & Main Bank acquired a new stake in Mastercard during the 1st quarter valued at $38,000. Institutional investors own 74.25% of the company’s stock.
A number of research analysts recently commented on the company. Bank of America raised their price target on Mastercard from $255.00 to $267.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Argus lifted their price target on Mastercard to $320.00 and gave the company an “average” rating in a research note on Wednesday, July 31st. Citigroup set a $317.00 price target on Mastercard and gave the company a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada set a $315.00 price target on Mastercard and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, KeyCorp lifted their price target on Mastercard from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Mastercard currently has an average rating of “Buy” and a consensus target price of $291.80.
Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. As a group, equities analysts forecast that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, July 8th. Mastercard’s dividend payout ratio is presently 20.34%.
In other Mastercard news, Director David R. Carlucci sold 3,974 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $262.51, for a total value of $1,043,214.74. Following the completion of the sale, the director now owns 54,438 shares in the company, valued at approximately $14,290,519.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lance Darrell Gordon Uggla acquired 1,500 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $275.71 per share, with a total value of $413,565.00. Following the acquisition, the director now owns 3,691 shares in the company, valued at approximately $1,017,645.61. The disclosure for this purchase can be found here. Insiders have sold a total of 201,511 shares of company stock valued at $54,471,508 over the last 90 days. 3.70% of the stock is currently owned by company insiders.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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