Mastercard Incorporated $MA Shares Sold by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC has reduced its stake in Mastercard by 8.3%, now holding 8,464 shares worth approximately $4.76 million.
• Despite the stake reduction by Galvin Gaustad & Stein, other institutional investors like Vanguard Group and Wellington Management have increased their positions significantly, highlighting strong institutional interest in Mastercard.
• Recent analyst reports are bullish on Mastercard, with upgrades from Seaport Res Ptn and price target increases from firms like Wells Fargo and Morgan Stanley suggesting strong growth prospects.

Galvin Gaustad & Stein LLC cut its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,464 shares of the credit services provider's stock after selling 771 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in Mastercard were worth $4,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock worth $42,503,787,000 after purchasing an additional 365,537 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Mastercard during the 2nd quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD increased its position in shares of Mastercard by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock worth $11,015,557,000 after purchasing an additional 907,184 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Mastercard by 38.6% during the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock worth $7,413,936,000 after purchasing an additional 3,765,378 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $4,238,764,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Seaport Res Ptn raised Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley increased their price target on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, August 1st. Finally, Wolfe Research set a $655.00 price target on shares of Mastercard in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mastercard has a consensus rating of "Buy" and an average price target of $634.04.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Mastercard Stock Performance

Shares of MA opened at $563.77 on Friday. The stock has a 50-day simple moving average of $581.06 and a 200-day simple moving average of $562.68. 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 stock has a market capitalization of $509.65 billion, a PE ratio of 38.02, a PEG ratio of 2.36 and a beta of 0.97. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $8.13 billion during 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 business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.50 EPS. On average, analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

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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