BOCHK Asset Management Ltd lessened its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 40.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the credit services provider's stock after selling 2,600 shares during the period. BOCHK Asset Management Ltd's holdings in Mastercard were worth $2,003,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Border to Coast Pensions Partnership Ltd lifted its stake in Mastercard by 7.3% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 139,844 shares of the credit services provider's stock worth $70,089,000 after purchasing an additional 9,504 shares during the period. Canada Post Corp Registered Pension Plan grew its stake in shares of Mastercard by 6.1% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 65,414 shares of the credit services provider's stock valued at $37,344,000 after purchasing an additional 3,768 shares during the period. Marble Wealth LLC bought a new stake in shares of Mastercard in the 4th quarter valued at approximately $1,328,000. Charles Lim Capital Ltd acquired a new position in shares of Mastercard in the 4th quarter worth approximately $15,699,000. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Mastercard by 5.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider's stock worth $14,093,000 after buying an additional 1,434 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.
Mastercard Stock Up 3.3%
Shares of NYSE MA opened at $599.69 on Tuesday. Mastercard Incorporated has a 12-month low of $464.52 and a 12-month high of $601.62. The firm's 50-day simple moving average is $540.98 and its 200 day simple moving average is $518.14. The company has a market cap of $525.34 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.74 and a beta of 0.71. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 3.96.
Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, beating the consensus estimate of $4.77 by $0.27. The business had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. Mastercard's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.15 earnings per share. On average, research analysts expect that Mastercard Incorporated will post 19.86 earnings per share for the current fiscal year.
Mastercard Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were given a dividend of $0.87 per share. The ex-dividend date was Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. Mastercard's dividend payout ratio is presently 19.14%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Clear Str raised Mastercard to a "strong-buy" rating in a research note on Thursday, July 16th. Piper Sandler assumed coverage on shares of Mastercard in a research note on Monday, June 29th. They issued an "overweight" rating and a $597.00 target price on the stock. Weiss Ratings upgraded shares of Mastercard from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. TD Cowen upped their target price on shares of Mastercard from $664.00 to $667.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Morgan Stanley increased their target price on shares of Mastercard from $679.00 to $681.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Mastercard currently has a consensus rating of "Buy" and an average target price of $661.93.
Get Our Latest Report on Mastercard
Insider Transactions at Mastercard
In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $570.31, for a total transaction of $2,440,926.80. Following the transaction, the insider owned 31,179 shares in the company, valued at approximately $17,781,695.49. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 16,628 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $567.68, for a total transaction of $9,439,383.04. Following the transaction, the chief executive officer owned 115,921 shares of the company's stock, valued at approximately $65,806,033.28. This represents a 12.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 71,357 shares of company stock valued at $40,637,262. 0.09% of the stock is currently owned by company insiders.
About Mastercard
(
Free Report)
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.
Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.
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