Fulton Bank N.A. Trims Stock Position in Mastercard Incorporated $MA

Key Points

• Fulton Bank N.A. reduced its holdings in Mastercard by 3.6%, owning 29,367 shares valued at approximately $16.5 million after selling 1,111 shares in the second quarter.
• Mastercard's latest earnings report showed an EPS of $4.15, exceeding expectations, with revenue increasing by 16.8% year-over-year to $8.13 billion.
• The company announced a quarterly dividend of $0.76 per share, representing an annualized yield of 0.5%, with the payout scheduled for November 7th.

Fulton Bank N.A. lowered its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,367 shares of the credit services provider's stock after selling 1,111 shares during the period. Fulton Bank N.A.'s holdings in Mastercard were worth $16,502,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Mastercard by 0.5% during the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock valued at $42,503,787,000 after acquiring an additional 365,537 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Mastercard by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock valued at $11,015,557,000 after acquiring an additional 907,184 shares in the last quarter. Wellington Management Group LLP grew its stake in Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock valued at $7,413,936,000 after acquiring an additional 3,765,378 shares in the last quarter. GAMMA Investing LLC grew its stake in Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after acquiring an additional 8,213,123 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Mastercard during the first quarter valued at approximately $4,238,764,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MA shares. Wolfe Research set a $655.00 target price on shares of Mastercard in a research report on Monday, June 23rd. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. Royal Bank Of Canada lifted their target price on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a "buy" rating and a $650.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $630.89.

Insider Transactions at Mastercard

In related news, Director Julius Genachowski sold 312 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director 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 document filed with the SEC, which is available at this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the transaction, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,094 shares of company stock worth $26,521,861. 0.09% of the stock is owned by insiders.

Mastercard Trading Up 2.0%

Shares of MA opened at $597.99 on Thursday. The firm has a 50 day moving average price of $576.11 and a 200-day moving average price of $558.80. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. 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 firm has a market cap of $540.59 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.40 and a beta of 0.99.

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

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard's dividend payout ratio is currently 20.50%.

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.

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