Mastercard Incorporated $MA Stake Lowered by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its stake in Mastercard by 0.2%, now holding 305,514 shares worth approximately $170.85 million, making it the firm's 20th largest holding.
• Mastercard's quarterly earnings exceeded expectations with an EPS of $4.15, beating the consensus estimate of $4.05, and reported revenues of $8.13 billion, a 16.8% increase year-over-year.
• The company announced a quarterly dividend of $0.76, with an upcoming payment date of November 7th, representing an annualized yield of 0.5% and a payout ratio of 20.50%.

DAVENPORT & Co LLC cut its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,514 shares of the credit services provider's stock after selling 555 shares during the quarter. Mastercard makes up 0.9% of DAVENPORT & Co LLC's portfolio, making the stock its 20th biggest holding. DAVENPORT & Co LLC's holdings in Mastercard were worth $170,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MA. ORG Partners LLC lifted its stake in Mastercard by 73.2% in the second quarter. ORG Partners LLC now owns 698 shares of the credit services provider's stock valued at $394,000 after acquiring an additional 295 shares during the last quarter. Ethos Financial Group LLC increased its stake in shares of Mastercard by 19.5% during the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider's stock worth $1,683,000 after purchasing an additional 518 shares during the last quarter. Fortis Advisors LLC raised its holdings in shares of 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 purchasing an additional 75 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its stake in shares of Mastercard by 36.4% in 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 purchasing an additional 185 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its holdings in Mastercard by 4.3% in the second quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider's stock worth $3,632,000 after purchasing an additional 264 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Stock Up 0.6%

NYSE MA opened at $581.08 on Monday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The stock has a market cap of $525.30 billion, a PE ratio of 39.18, a PEG ratio of 2.38 and a beta of 0.97. The firm has a 50-day simple moving average of $580.26 and a 200 day simple moving average of $562.03. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 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 analysts' expectations of $7.95 billion. During the same quarter in the prior year, the firm posted $3.50 EPS. The company's revenue for the quarter was up 16.8% on a year-over-year basis. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

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

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares of the company's stock, valued at $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MA. Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a report on Monday, July 14th. Wall Street Zen downgraded Mastercard from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Truist Financial reduced their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Morgan Stanley increased their price target on Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $630.89.

About Mastercard

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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