Adage Capital Partners GP L.L.C. Sells 24,700 Shares of Mastercard Incorporated $MA

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Mastercard by 3.3%, selling 24,700 shares, bringing its total holdings to 721,710 shares.
• Mastercard recently reported earnings of $4.15 per share, exceeding expectations, with a revenue increase of 16.8% year-over-year.
• Insider trading activity included significant share sales by CFO J. Mehra Sachin and another insider, reflecting a notable decrease in their ownership positions.

Adage Capital Partners GP L.L.C. decreased its position in Mastercard Incorporated (NYSE:MA - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 721,710 shares of the credit services provider's stock after selling 24,700 shares during the period. Mastercard comprises 0.7% of Adage Capital Partners GP L.L.C.'s portfolio, making the stock its 20th biggest position. Adage Capital Partners GP L.L.C. owned about 0.08% of Mastercard worth $395,584,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock worth $37,108,000 after purchasing an additional 7,452 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Mastercard during the 4th quarter worth approximately $73,000. Trustco Bank Corp N Y bought a new stake in shares of Mastercard during the 4th quarter worth approximately $211,000. Finally, Aptus Capital Advisors LLC raised its stake in shares of Mastercard by 58.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 10,695 shares of the credit services provider's stock worth $5,632,000 after purchasing an additional 3,962 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group boosted their target price on Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Morgan Stanley boosted their target price on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company boosted their target price on Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their target price on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Mastercard from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $626.54.

Insider Activity at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the sale, the insider directly owned 58,451 shares of the company's stock, valued at approximately $20,636,125.55. This represents a 13.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,481 shares of company stock worth $32,616,595 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Stock Performance

NYSE MA traded down $11.43 on Friday, reaching $584.21. The stock had a trading volume of 2,432,106 shares, compared to its average volume of 2,252,842. 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 firm has a fifty day moving average of $572.59 and a two-hundred day moving average of $557.60. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a market cap of $528.13 billion, a P/E ratio of 39.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.99.

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

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard's dividend payout ratio is 20.50%.

Mastercard Company 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.