Ipswich Investment Management Co. Inc. Sells 855 Shares of Mastercard Incorporated $MA

Key Points

• Ipswich Investment Management Co. Inc. reduced its stake in Mastercard by 40.4%, selling 855 shares during the second quarter, leaving it with holdings valued at approximately $710,000.
• Mastercard reported $4.15 earnings per share for the last quarter, outperforming analysts' estimates of $4.05, with revenue increasing 16.8% year-over-year.
• The company declared a quarterly dividend of $0.76 per share, representing an annualized yield of 0.5%, with the payment scheduled for November 7th.

Ipswich Investment Management Co. Inc. lessened its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 40.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,263 shares of the credit services provider's stock after selling 855 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in Mastercard were worth $710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MA. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard during the 2nd quarter worth $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard in the first quarter valued at about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the first quarter worth about $31,000. Hughes Financial Services LLC acquired a new stake in Mastercard during the first quarter worth about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard during the first quarter worth about $44,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE MA opened at $565.63 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The business's 50 day moving average is $579.00 and its two-hundred day moving average is $560.04. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The stock has a market capitalization of $511.34 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.33 and a beta of 0.99.

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

Mastercard Announces Dividend

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

Analysts Set New Price Targets

MA has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Jefferies Financial Group reiterated a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. Morgan Stanley lifted their price objective on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company raised their target price on Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Mastercard has an average rating of "Buy" and a consensus target price of $630.89.

Insiders Place Their Bets

In other Mastercard news, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director directly owned 8,469 shares of the company's stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 17,816 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the sale, the chief financial officer owned 31,234 shares of the company's stock, valued at $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. Insiders have sold a total of 36,349 shares of company stock valued at $21,372,994 in the last quarter. 0.09% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.