Caitong International Asset Management Co. Ltd Trims Stock Holdings in Mastercard Incorporated $MA

Key Points

• Caitong International Asset Management Co. Ltd significantly reduced its stake in Mastercard by 88.4%, selling 814 shares and now owning only 107 shares worth $60,000.
• Mastercard reported a 16.8% year-over-year increase in quarterly revenue to $8.13 billion and earnings per share of $4.15, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.76 per share, with the ex-dividend date set for October 9th, reflecting a 0.5% yield.

Caitong International Asset Management Co. Ltd lowered its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 88.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107 shares of the credit services provider's stock after selling 814 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Mastercard were worth $60,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Mastercard by 0.5% in the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock valued at $42,503,787,000 after purchasing an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Mastercard in the second quarter valued at approximately $11,421,213,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock valued at $11,015,557,000 after purchasing an additional 907,184 shares during the period. Wellington Management Group LLP increased its holdings in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Mastercard in the first quarter valued at approximately $4,238,764,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Stock Down 0.0%

MA opened at $573.72 on Friday. The business's fifty day moving average is $579.51 and its two-hundred day moving average is $566.01. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $518.65 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.35 and a beta of 0.97. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77.

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, topping analysts' consensus estimates of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.Mastercard's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.50 earnings per share. Analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced 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 is Thursday, October 9th. Mastercard's payout ratio is presently 20.50%.

Insider Buying and Selling

In other news, CFO J. Mehra Sachin sold 17,263 shares of the company's 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 $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MA. Truist Financial set a $638.00 price objective on Mastercard in a report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Mastercard in a report on Friday, August 1st. Royal Bank Of Canada upped their price objective on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mastercard in a report on Saturday. Finally, Wall Street Zen raised Mastercard from a "hold" rating to a "buy" rating in a report on Saturday, October 18th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $638.96.

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.

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