Harvest Portfolios Group Inc. Sells 583 Shares of Mastercard Incorporated $MA

Key Points

• Harvest Portfolios Group Inc. reduced its stake in Mastercard by 36.9%, selling 583 shares, which left them with 995 shares valued at approximately $545,000.
• The company reported a $4.15 EPS for the latest quarter, exceeding analysts’ expectations of $4.05, with a 16.8% year-over-year revenue increase to $8.13 billion.
• Mastercard announced a quarterly dividend of $0.76, resulting in an annualized yield of 0.5% and a payout ratio of 20.50%.

Harvest Portfolios Group Inc. lowered its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 36.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 995 shares of the credit services provider's stock after selling 583 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Mastercard were worth $545,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MA. Measured Risk Portfolios Inc. purchased a new position in shares of Mastercard during the fourth quarter valued at approximately $31,000. Keystone Global Partners LLC purchased a new position in shares of Mastercard during the first quarter valued at approximately $31,000. Navigoe LLC purchased a new position in shares of Mastercard during the fourth quarter valued at approximately $33,000. 10Elms LLP purchased a new position in shares of Mastercard during the fourth quarter valued at approximately $33,000. Finally, Hughes Financial Services LLC purchased a new position in shares of Mastercard during the first quarter valued at approximately $34,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

Shares of MA stock opened at $592.88 on Wednesday. The stock has a market cap of $535.97 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 2.43 and a beta of 1.03. The business's fifty day moving average is $565.00 and its 200 day moving average is $556.05. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

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

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard's dividend payout ratio is currently 20.50%.

Insider Transactions at Mastercard

In other news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the sale, the insider directly owned 12,921 shares of the company's stock, valued at approximately $7,064,815.17. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO J. Mehra Sachin sold 17,816 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,269 shares of company stock valued at $30,634,699. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MA. Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a research note on Thursday, July 17th. They set a "buy" rating and a $650.00 target price on the stock. Truist Financial reduced their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. TD Cowen reissued a "buy" rating and set a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. Royal Bank Of Canada upped their price target on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Morgan Stanley upped their price target on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $617.93.

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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