Connable Office Inc. Has $5.79 Million Holdings in Mastercard Incorporated (NYSE:MA)

Key Points

• Connable Office Inc. has reduced its stock position in Mastercard by 17.4%, selling 2,224 shares to own a total of 10,567 shares valued at approximately $5.79 million.
• Several institutional investors, including Brighton Jones LLC and ExodusPoint Capital Management LP, have increased their stakes in Mastercard, with the latter raising its holdings by a notable 533.6%.
• Mastercard's recent quarterly earnings report shows an earnings per share (EPS) of $4.15, exceeding analyst estimates by $0.10, with revenue increasing by 16.8% compared to the previous year.

Connable Office Inc. lessened its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 17.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,567 shares of the credit services provider's stock after selling 2,224 shares during the quarter. Mastercard comprises about 0.6% of Connable Office Inc.'s investment portfolio, making the stock its 25th biggest position. Connable Office Inc.'s holdings in Mastercard were worth $5,792,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Measured Risk Portfolios Inc. acquired a new position in Mastercard in the fourth quarter valued at $31,000. Navigoe LLC acquired a new position in Mastercard in the fourth quarter valued at $33,000. 10Elms LLP acquired a new position in Mastercard in the fourth quarter valued at $33,000. Hughes Financial Services LLC acquired a new position in Mastercard in the first quarter valued at $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Mastercard in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Price Performance

MA traded up $3.14 during midday trading on Wednesday, reaching $569.18. 2,245,042 shares of the company's stock were exchanged, compared to its average volume of 2,608,880. Mastercard Incorporated has a one year low of $449.04 and a one year high of $594.71. The business has a 50-day simple moving average of $564.52 and a two-hundred day simple moving average of $552.56. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $518.93 billion, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.13 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the previous year, the company posted $3.50 EPS. Mastercard's revenue was up 16.8% on a year-over-year basis. As a group, research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current 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 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 is Wednesday, July 9th. Mastercard's payout ratio is currently 20.50%.

Insider Buying and Selling at Mastercard

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the transaction, the insider owned 23,624 shares of the company's stock, valued at $13,229,440. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raj Seshadri sold 1,100 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 12,921 shares of the company's stock, 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 sold a total of 38,753 shares of company stock worth $20,351,084 over the last quarter. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MA. Macquarie lowered their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, August 1st. Morgan Stanley upped their target price on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company upped their target price on Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Citigroup increased their price target on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Mastercard currently has an average rating of "Moderate Buy" and a consensus target price of $615.33.

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.