Cary Street Partners Financial LLC Sells 859 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• Cary Street Partners Financial LLC reduced its holdings in Mastercard by 11.4%, selling 859 shares during the 1st quarter, bringing its total ownership to 6,651 shares valued at approximately $3.65 million.
• Mastercard's latest quarterly earnings report showed a net income margin of 44.93% and a revenue increase of 16.8% year-over-year, with earnings per share surpassing estimates.
• The company declared a quarterly dividend of $0.76 per share, translating to an annualized yield of 0.5%, with the ex-dividend date set for July 9th.

Cary Street Partners Financial LLC lowered its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,651 shares of the credit services provider's stock after selling 859 shares during the quarter. Cary Street Partners Financial LLC's holdings in Mastercard were worth $3,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in MA. Accredited Investors Inc. increased its stake in shares of Mastercard by 2.6% in the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock valued at $394,000 after purchasing an additional 18 shares during the period. Wealthstream Advisors Inc. increased its stake in shares of Mastercard by 2.9% during the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock valued at $347,000 after acquiring an additional 18 shares during the period. Phillips Wealth Planners LLC increased its stake in shares of Mastercard by 1.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock valued at $538,000 after acquiring an additional 19 shares during the period. Alta Wealth Advisors LLC boosted its holdings in Mastercard by 3.6% during the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock worth $296,000 after buying an additional 19 shares in the last quarter. Finally, May Hill Capital LLC boosted its holdings in Mastercard by 2.0% during the first quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock worth $540,000 after buying an additional 19 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. KeyCorp lifted their target price on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Seaport Res Ptn raised shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Morgan Stanley lifted their price objective on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Mastercard from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Mastercard currently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

Mastercard Stock Up 2.4%

Shares of NYSE MA traded up $13.20 during trading on Friday, hitting $574.42. The stock had a trading volume of 2,907,568 shares, compared to its average volume of 2,618,541. Mastercard Incorporated has a 12 month low of $453.46 and a 12 month high of $594.71. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $523.70 billion, a PE ratio of 38.73, a PEG ratio of 2.30 and a beta of 1.03. The firm has a fifty day moving average of $563.90 and a two-hundred day moving average of $553.24.

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

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 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 Wednesday, July 9th. Mastercard's dividend payout ratio (DPR) is currently 20.50%.

Insider Buying and Selling at Mastercard

In other news, insider Craig Vosburg sold 14,051 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $585.05, for a total value of $8,220,537.55. Following the sale, the insider directly owned 58,451 shares of the company's stock, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Raj Seshadri sold 1,100 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $546.77, for a total transaction of $601,447.00. Following the completion of the sale, the insider directly owned 12,921 shares in the company, valued at approximately $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,603 shares of company stock worth $20,265,667 over the last ninety days. Company insiders own 0.09% of the company's stock.

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.