Avanza Fonder AB Has $31.62 Million Holdings in Mastercard Incorporated $MA

Key Points

• Avanza Fonder AB has reduced its stake in Mastercard by 1.0%, selling 568 shares during the 2nd quarter, resulting in a total of 56,260 shares valued at approximately $31.6 million.
• Mastercard recently reported earnings per share of $4.15 for the last quarter, exceeding analyst expectations and marking a 16.8% year-over-year revenue increase to $8.13 billion.
• A number of brokerages have recently adjusted their price targets for Mastercard, with KeyCorp raising it to $660.00 and Royal Bank of Canada adjusting it to $656.00, while maintaining an overall "Buy" rating.

Avanza Fonder AB decreased its position in Mastercard Incorporated (NYSE:MA - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 56,260 shares of the credit services provider's stock after selling 568 shares during the quarter. Mastercard accounts for approximately 0.9% of Avanza Fonder AB's holdings, making the stock its 15th biggest holding. Avanza Fonder AB's holdings in Mastercard were worth $31,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ethos Financial Group LLC lifted its position in Mastercard by 19.5% during the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider's stock worth $1,683,000 after buying an additional 518 shares in the last quarter. Fortis Advisors LLC lifted its position in Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock worth $477,000 after buying an additional 75 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its position in Mastercard by 36.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock worth $380,000 after buying an additional 185 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Mastercard by 18.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock worth $3,766,000 after buying an additional 1,047 shares in the last quarter. Finally, YHB Investment Advisors Inc. lifted its position in Mastercard by 2.1% during the 2nd quarter. YHB Investment Advisors Inc. now owns 4,251 shares of the credit services provider's stock worth $2,389,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Activity at Mastercard

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction on Friday, June 27th. The shares were sold at an average price of $546.77, for a total transaction of $601,447.00. Following the completion of the transaction, the insider directly owned 12,921 shares of the company's stock, valued at $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the transaction, the director directly owned 8,469 shares of the company's stock, valued at approximately $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,717 shares of company stock valued at $22,684,831. 0.09% of the stock is owned by company insiders.

Mastercard Stock Down 0.4%

Shares of NYSE MA traded down $2.17 during trading hours on Friday, hitting $583.88. The company had a trading volume of 6,744,713 shares, compared to its average volume of 2,498,610. The stock has a market capitalization of $527.83 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 2.39 and a beta of 0.99. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The firm's 50 day moving average is $577.23 and its 200-day moving average is $559.16.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS 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 company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the firm posted $3.50 EPS. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Analyst Ratings Changes

MA has been the topic of a number of research reports. TD Cowen restated a "buy" rating and set a $645.00 target price on shares of Mastercard in a research report on Monday, August 11th. UBS Group upped their target price on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Truist Financial cut their target price on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, KeyCorp upped their target price on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of "Buy" and an average price target of $630.89.

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.