Azimuth Capital Investment Management LLC Reduces Stock Position in Mastercard Incorporated (NYSE:MA)

Key Points

• Azimuth Capital Investment Management LLC has reduced its stock position in Mastercard by 1.5% in the first quarter, now holding 37,142 shares valued at $20.36 million.
• Mastercard reported earnings of $4.15 per share for the quarter, exceeding analysts' expectations, and its revenue increased by 16.8% year-over-year.
• The company recently declared a quarterly dividend of $0.76 per share, resulting in an annualized yield of 0.5% and a dividend payout ratio of 20.50%.

Azimuth Capital Investment Management LLC decreased its position in Mastercard Incorporated (NYSE:MA - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,142 shares of the credit services provider's stock after selling 581 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Mastercard were worth $20,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC boosted its position in Mastercard by 17.6% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 68,296 shares of the credit services provider's stock valued at $37,435,000 after purchasing an additional 10,236 shares during the period. Oak Ridge Investments LLC boosted its position in Mastercard by 5.2% during the 1st quarter. Oak Ridge Investments LLC now owns 37,951 shares of the credit services provider's stock valued at $20,802,000 after purchasing an additional 1,888 shares during the period. OneAscent Investment Solutions LLC acquired a new position in Mastercard during the 1st quarter worth $575,000. Vestmark Advisory Solutions Inc. boosted its position in Mastercard by 58.4% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 7,130 shares of the credit services provider's stock worth $3,908,000 after acquiring an additional 2,630 shares during the period. Finally, Ground Swell Capital LLC acquired a new position in Mastercard during the 1st quarter worth $422,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Price Performance

Shares of MA stock opened at $584.14 on Friday. The stock has a 50 day moving average of $563.46 and a two-hundred day moving average of $554.40. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 12 month low of $461.90 and a 12 month high of $594.71. The company has a market capitalization of $528.07 billion, a P/E ratio of 39.39, a P/E/G ratio of 2.37 and a beta of 1.03.

Mastercard (NYSE:MA - Get Free Report) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The business had revenue of $8.13 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the prior year, the firm posted $3.50 EPS. Mastercard's quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were issued 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 was Wednesday, July 9th. Mastercard's dividend payout ratio (DPR) is currently 20.50%.

Insiders Place Their Bets

In other news, 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 value of $178,049.04. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $601,447.00. Following the completion of the sale, the insider directly owned 12,921 shares of the company's stock, valued at $7,064,815.17. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,453 shares of company stock valued at $20,178,667. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MA shares. Royal Bank Of Canada boosted their price target on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Mastercard from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Morgan Stanley upped their price objective on Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company upped their price objective on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a report on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $615.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.