Florida Trust Wealth Management Co Lowers Position in Mastercard Incorporated $MA

Key Points

• Florida Trust Wealth Management trimmed its Mastercard position by 5.1% in the second quarter, selling 4,320 shares and retaining 79,566 shares valued at approximately $40.9 million. Institutional investors collectively own 97.28% of the company.
• Analyst sentiment remains positive, with five Strong Buy ratings and 25 Buy ratings; Mastercard has an average price target of $661.93, above its reported share price of $574.21.
• Mastercard reported strong quarterly results, with EPS of $5.04 and revenue of $9.28 billion, exceeding estimates and representing 14.1% year-over-year revenue growth. The company also pays a quarterly dividend of $0.87 per share, yielding 0.6% annually.

Florida Trust Wealth Management Co trimmed its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,566 shares of the credit services provider's stock after selling 4,320 shares during the quarter. Mastercard accounts for approximately 1.0% of Florida Trust Wealth Management Co's portfolio, making the stock its 28th largest holding. Florida Trust Wealth Management Co's holdings in Mastercard were worth $40,865,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in Mastercard by 8.5% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider's stock valued at $1,432,000 after buying an additional 200 shares during the last quarter. Betterment LLC lifted its position in shares of Mastercard by 6.5% during the 2nd quarter. Betterment LLC now owns 947 shares of the credit services provider's stock worth $532,000 after buying an additional 58 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Mastercard by 35.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider's stock worth $380,548,000 after buying an additional 178,387 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Mastercard in the 2nd quarter worth approximately $431,000. Institutional investors own 97.28% of the company's stock.

Analyst Ratings Changes

MA has been the subject of several recent analyst reports. Cantor Fitzgerald upped their target price on Mastercard from $650.00 to $695.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Raymond James Financial reissued an "outperform" rating and issued a $632.00 price objective on shares of Mastercard in a research report on Friday, July 31st. The Goldman Sachs Group restated a "buy" rating and issued a $701.00 price objective on shares of Mastercard in a research note on Thursday, July 30th. UBS Group raised their target price on Mastercard from $640.00 to $670.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Clear Str upgraded Mastercard to a "strong-buy" rating in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $661.93.

Insider Transactions at Mastercard

In other news, CEO Michael Miebach sold 16,628 shares of Mastercard stock in a transaction on Friday, July 31st. The stock was sold at an average price of $567.68, for a total value of $9,439,383.04. Following the completion of the transaction, the chief executive officer directly owned 115,921 shares in the company, valued at approximately $65,806,033.28. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider J. Mehra Sachin sold 3,000 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $571.87, for a total value of $1,715,610.00. Following the sale, the insider owned 40,916 shares in the company, valued at approximately $23,398,632.92. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 62,913 shares of company stock valued at $35,769,036. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Performance

NYSE MA opened at $574.21 on Thursday. The firm has a market cap of $503.01 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 3.96. The company's 50 day moving average is $535.21 and its 200-day moving average is $517.37. Mastercard Incorporated has a 12-month low of $464.52 and a 12-month high of $601.77.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, topping the consensus estimate of $4.77 by $0.27. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the firm earned $4.15 EPS. Mastercard's revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts predict that Mastercard Incorporated will post 19.86 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were given a dividend of $0.87 per share. The ex-dividend date was Thursday, July 9th. This represents a $3.48 annualized dividend and a dividend yield of 0.6%. Mastercard's dividend payout ratio is currently 19.14%.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source