Envestnet Asset Management Inc. Reduces Stock Position in Mastercard Incorporated (NYSE:MA)

Envestnet Asset Management Inc. reduced its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,022,845 shares of the credit services provider's stock after selling 27,146 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Mastercard worth $1,108,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Mastercard during the 4th quarter worth $6,022,224,000. GAMMA Investing LLC lifted its position in Mastercard by 65,631.5% in the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock worth $4,508,636,000 after buying an additional 8,213,123 shares during the last quarter. Northern Trust Corp lifted its position in Mastercard by 15.2% in the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock worth $4,817,684,000 after buying an additional 1,207,787 shares during the last quarter. Sanders Capital LLC bought a new stake in Mastercard in the 4th quarter worth approximately $617,303,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Mastercard in the 4th quarter worth approximately $561,313,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Julius Genachowski sold 312 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the transaction, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Vosburg sold 14,051 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total value of $8,220,537.55. Following the transaction, the insider owned 58,451 shares in the company, valued at approximately $34,196,757.55. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,753 shares of company stock valued at $20,351,084 in the last 90 days. Corporate insiders own 0.09% of the company's stock.

Mastercard Stock Up 0.3%

Shares of MA traded up $1.92 during trading hours on Wednesday, hitting $564.36. The company had a trading volume of 2,453,888 shares, compared to its average volume of 2,678,343. The company has a market capitalization of $514.53 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The company's fifty day moving average price is $568.25 and its two-hundred day moving average price is $547.33.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.31 EPS. As a group, equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, July 9th. Mastercard's payout ratio is 21.32%.

Analyst Upgrades and Downgrades

MA has been the topic of several research analyst reports. Wolfe Research set a $655.00 target price on Mastercard in a research note on Monday, June 23rd. Wall Street Zen cut Mastercard from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. KeyCorp increased their target price on Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Truist Financial started coverage on Mastercard in a research note on Monday, June 2nd. They issued a "buy" rating and a $640.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $611.50.

Mastercard Company 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.