Ieq Capital LLC Cuts Holdings in Mastercard Incorporated $MA

Key Points

• Ieq Capital LLC reduced its holdings in Mastercard by 1.1%, ending the quarter with 82,345 shares valued at approximately $45.1 million.
• Mastercard's latest earnings report showed an EPS of $4.15, surpassing estimates, with revenues increasing by 16.8% year-over-year to $8.13 billion.
• The company recently declared a quarterly dividend of $0.76 per share, reflecting a 0.5% yield, with a payout ratio of 20.50%.

Ieq Capital LLC decreased its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,345 shares of the credit services provider's stock after selling 894 shares during the period. Ieq Capital LLC's holdings in Mastercard were worth $45,135,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in Mastercard in the fourth quarter worth about $31,000. Keystone Global Partners LLC bought a new stake in Mastercard in the first quarter worth about $31,000. Navigoe LLC bought a new stake in Mastercard in the fourth quarter worth about $33,000. 10Elms LLP bought a new stake in Mastercard in the fourth quarter worth about $33,000. Finally, Hughes Financial Services LLC bought a new stake in Mastercard in the first quarter worth about $34,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Stock Performance

Shares of NYSE:MA opened at $592.88 on Wednesday. The company has a market capitalization of $535.97 billion, a price-to-earnings ratio of 39.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week 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. The firm has a 50 day moving average of $565.00 and a 200 day moving average of $556.05.

Mastercard (NYSE:MA - Get Free Report) last released its earnings results 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. 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 the consensus estimate of $7.95 billion. During the same period in the prior year, the firm earned $3.50 EPS. The firm's revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts predict 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 was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard's dividend payout ratio (DPR) is currently 20.50%.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,816 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julius Genachowski sold 312 shares of the firm'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 sale, the director owned 8,469 shares in the company, valued at $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,269 shares of company stock worth $30,634,699. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on MA. Citigroup raised their price objective on shares of Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. TD Cowen reissued a "buy" rating and issued a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Truist Financial decreased their price objective on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Wells Fargo & Company boosted their price target on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $617.93.

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.

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