Mastercard Incorporated $MA Shares Sold by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. reduced its stakes in Mastercard by 29.0%, selling 1,520 shares and retaining 3,714 shares, valued at approximately $2,087,000.
• Mastercard reported earnings of $4.15 EPS, surpassing estimates, with revenue of $8.13 billion, marking a 16.8% increase compared to the same period last year.
• The company has announced a quarterly dividend of $0.76 per share, with an annualized yield of 0.5%, payable on November 7th to record holders as of October 9th.

Platinum Investment Management Ltd. lowered its position in Mastercard Incorporated (NYSE:MA - Free Report) by 29.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,714 shares of the credit services provider's stock after selling 1,520 shares during the period. Platinum Investment Management Ltd.'s holdings in Mastercard were worth $2,087,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MA. ORG Partners LLC grew its holdings in Mastercard by 73.2% during the 2nd quarter. ORG Partners LLC now owns 698 shares of the credit services provider's stock valued at $394,000 after buying an additional 295 shares during the last quarter. Ethos Financial Group LLC grew its holdings in Mastercard by 19.5% during the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider's stock valued at $1,683,000 after buying an additional 518 shares during the last quarter. Fortis Advisors LLC grew its holdings in Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock valued at $477,000 after buying an additional 75 shares during the last quarter. Canandaigua National Trust Co of Florida grew its holdings in Mastercard by 36.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock valued at $380,000 after buying an additional 185 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC grew its holdings in Mastercard by 4.3% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider's stock valued at $3,632,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Buying and Selling at Mastercard

In other 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 transaction of $178,049.04. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,391 shares of company stock valued at $20,836,514. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MA has been the topic of a number of analyst reports. Truist Financial lowered their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a research note on Thursday, July 17th. They set a "buy" rating and a $650.00 price target on the stock. Seaport Res Ptn raised Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Wall Street Zen lowered Mastercard from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Wolfe Research set a $655.00 price target on Mastercard in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Mastercard has an average rating of "Buy" and an average target price of $630.89.

Mastercard Stock Up 1.0%

Shares of NYSE MA opened at $574.40 on Thursday. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a market cap of $519.26 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.33 and a beta of 0.97. 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 stock has a fifty day moving average price of $579.73 and a 200 day moving average price of $561.01.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly 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 during 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 quarterly revenue was up 16.8% compared to the same quarter last year. Research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

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

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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