Bar Harbor Wealth Management Trims Stock Holdings in Mastercard Incorporated $MA

Key Points

• Bar Harbor Wealth Management reduced its stake in Mastercard by 4.4%, holding a total of 14,526 shares worth approximately $8.16 million.
• Mastercard recently announced a quarterly dividend of $0.76 per share, with investors of record on October 9th set to receive the payment, which results in an annual yield of 0.5%.
• The company's stock has shown a 0.6% decline, with shares currently trading around $576.40, while recent earnings reports indicated a revenue increase of 16.8% year-over-year.

Bar Harbor Wealth Management lowered its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 4.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,526 shares of the credit services provider's stock after selling 662 shares during the period. Bar Harbor Wealth Management's holdings in Mastercard were worth $8,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock worth $42,503,787,000 after buying an additional 365,537 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Mastercard during the 2nd quarter worth approximately $11,421,213,000. Price T Rowe Associates Inc. MD lifted its holdings in Mastercard by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock worth $11,015,557,000 after buying an additional 907,184 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Mastercard by 38.6% during the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock worth $7,413,936,000 after buying an additional 3,765,378 shares during the last quarter. Finally, Nuveen LLC bought a new position in Mastercard during the 1st quarter worth approximately $4,238,764,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insider Buying and Selling

In related news, CFO J. Mehra Sachin sold 17,263 shares of the firm's stock in a transaction that occurred 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 $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Stock Down 0.6%

Shares of Mastercard stock opened at $576.40 on Thursday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $521.07 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 2.38 and a beta of 0.97. The business's 50 day simple moving average is $581.11 and its 200-day simple moving average is $562.55.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results 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 firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. During the same period last year, the firm earned $3.50 EPS. The firm's revenue was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard's dividend payout ratio (DPR) is currently 20.50%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MA shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mastercard in a report on Wednesday. Wolfe Research set a $655.00 target price on Mastercard in a report on Monday, June 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Mastercard in a report on Friday, August 1st. Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Morgan Stanley increased their price target on Mastercard from $639.00 to $661.00 and gave the stock 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-five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $634.04.

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.

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA - Free Report).

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.