Mastercard Incorporated (NYSE:MA) Shares Sold by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers Ltd. reduced their holdings in Mastercard by 25.4%, selling 1,473 shares and holding 4,315 shares worth approximately $2.37 million at the end of the first quarter.
• Mastercard reported a net margin of 44.93% for the most recent quarter, with earnings per share of $4.15, exceeding estimates by $0.10 and showing a 16.8% increase in revenue year-over-year.
• Institutional ownership of Mastercard stock is very high, with 97.28% of its shares held by institutional investors, reflecting strong confidence in the company's prospects.

Coronation Fund Managers Ltd. lessened its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 25.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,315 shares of the credit services provider's stock after selling 1,473 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in Mastercard were worth $2,365,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Measured Risk Portfolios Inc. bought a new position in shares of Mastercard during the 4th quarter worth $31,000. 10Elms LLP purchased a new stake in Mastercard in the fourth quarter valued at about $33,000. Hughes Financial Services LLC purchased a new stake in Mastercard in the first quarter valued at about $34,000. Navigoe LLC purchased a new stake in Mastercard in the fourth quarter valued at about $33,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Mastercard in the fourth quarter valued at about $36,000. Institutional investors own 97.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MA shares. Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Macquarie cut their price objective on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. KeyCorp boosted their price objective on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their price target on Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company boosted their price target on Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has an average rating of "Moderate Buy" and a consensus target price of $615.33.

Mastercard Trading Up 0.1%

Shares of Mastercard stock traded up $0.29 during trading hours on Tuesday, hitting $573.88. The company's stock had a trading volume of 2,593,766 shares, compared to its average volume of 2,583,637. 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 stock has a market cap of $518.80 billion, a price-to-earnings ratio of 38.70, a P/E/G ratio of 2.36 and a beta of 1.03. Mastercard Incorporated has a twelve month low of $454.89 and a twelve month high of $594.71. The firm has a fifty day moving average of $563.59 and a 200-day moving average of $553.98.

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 (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.10. The firm 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%. The company's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 EPS. Research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were issued a dividend of $0.76 per share. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard's dividend payout ratio is 20.50%.

Insider Buying and Selling

In other news, 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 value of $601,447.00. Following the transaction, the insider owned 12,921 shares in the company, valued at approximately $7,064,815.17. This represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Vosburg sold 9,428 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $353.05, for a total value of $3,328,555.40. Following the completion of the transaction, the insider owned 58,451 shares in the company, valued at approximately $20,636,125.55. The trade was a 13.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,453 shares of company stock worth $20,178,667 in the last quarter. Company insiders own 0.09% of the company's stock.

About Mastercard

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.