Mastercard Incorporated $MA Shares Purchased by Glenview Trust Co

Key Points

• Glenview Trust Co increased its Mastercard stake by 2.2% in the first quarter, adding 3,931 shares and bringing its total holding to 180,138 shares worth about $90 million.
• Several other hedge funds also boosted their positions, and institutional investors now own 97.28% of Mastercard’s stock.
• Mastercard reported better-than-expected quarterly results, with EPS of $4.60 and revenue of $8.40 billion, while analysts currently rate the stock a Buy with an average price target of $653.92.

Glenview Trust Co boosted its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,138 shares of the credit services provider's stock after acquiring an additional 3,931 shares during the period. Mastercard accounts for approximately 1.4% of Glenview Trust Co's investment portfolio, making the stock its 20th biggest position. Glenview Trust Co's holdings in Mastercard were worth $90,008,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MA. Brighton Jones LLC grew its position in shares of Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock valued at $3,594,000 after purchasing an additional 2,028 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in Mastercard by 8.5% during the second quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider's stock worth $1,432,000 after buying an additional 200 shares in the last quarter. Betterment LLC lifted its position in Mastercard by 6.5% during the second 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 boosted its stake in Mastercard by 35.8% during the second 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 during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Mastercard during the second quarter worth $431,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Activity at Mastercard

In other news, insider Raj Seshadri sold 1,977 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $529.73, for a total transaction of $1,047,276.21. Following the completion of the transaction, the insider directly owned 16,429 shares in the company, valued at $8,702,934.17. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandra A. Arkell sold 200 shares of Mastercard stock in a transaction on Monday, July 6th. The shares were sold at an average price of $540.00, for a total value of $108,000.00. Following the completion of the sale, the insider directly owned 3,322 shares of the company's stock, valued at $1,793,880. The trade was a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,005 shares of company stock valued at $3,689,976 in the last quarter. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MA. Susquehanna cut their target price on Mastercard from $670.00 to $665.00 and set a "positive" rating for the company in a research note on Friday, May 1st. Dbs Bank raised shares of Mastercard to a "moderate buy" rating in a report on Friday, March 27th. Morgan Stanley restated an "overweight" rating and set a $679.00 price objective on shares of Mastercard in a research report on Friday, May 1st. BMO Capital Markets started coverage on shares of Mastercard in a research note on Tuesday, April 21st. They set an "outperform" rating and a $605.00 target price on the stock. Finally, TD Cowen decreased their target price on shares of Mastercard from $671.00 to $664.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Eight research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Mastercard presently has a consensus rating of "Buy" and an average price target of $653.92.

Mastercard Stock Performance

Shares of Mastercard stock opened at $547.58 on Tuesday. Mastercard Incorporated has a 52 week low of $464.52 and a 52 week high of $601.77. The business's fifty day simple moving average is $504.99 and its 200-day simple moving average is $515.59. The firm has a market cap of $483.83 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.70 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The credit services provider reported $4.60 earnings per share for the quarter, topping analysts' consensus estimates of $4.41 by $0.19. Mastercard had a return on equity of 212.96% and a net margin of 45.88%.The business had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.26 billion. During the same period in the prior year, the business posted $3.73 EPS. The company's revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Mastercard Incorporated will post 19.62 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 9th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 0.6%. Mastercard's dividend payout ratio (DPR) is presently 20.14%.

About Mastercard

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.

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