iA Global Asset Management Inc. Has $122.12 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Key Points

• iA Global Asset Management Inc. reduced its position in Mastercard by 14.5%, retaining 222,799 shares which now represent 2.1% of its total holdings, making it the firm's 10th largest position.
• Mastercard reported $8.13 billion in revenue for the last quarter, exceeding expectations and reflecting a 16.8% year-over-year increase, alongside an EPS of $4.15.
• Recent insider sales included Craig Vosburg selling 14,051 shares for approximately $8.22 million, with insiders collectively selling 38,753 shares valued at over $20 million in the past 90 days.

iA Global Asset Management Inc. lowered its position in Mastercard Incorporated (NYSE:MA - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,799 shares of the credit services provider's stock after selling 37,778 shares during the period. Mastercard makes up approximately 2.1% of iA Global Asset Management Inc.'s investment portfolio, making the stock its 10th largest holding. iA Global Asset Management Inc.'s holdings in Mastercard were worth $122,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock valued at $3,594,000 after buying an additional 2,028 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock valued at $37,108,000 after buying an additional 7,452 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Mastercard in the fourth quarter valued at $73,000. Trustco Bank Corp N Y acquired a new position in Mastercard in the fourth quarter valued at about $211,000. Finally, Waterloo Capital L.P. lifted its holdings in shares of Mastercard by 7.2% in the 4th quarter. Waterloo Capital L.P. now owns 1,939 shares of the credit services provider's stock worth $1,021,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MA shares. Wall Street Zen raised shares of Mastercard from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Truist Financial reduced their price objective on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Seaport Res Ptn raised Mastercard from a "hold" rating to a "strong-buy" rating in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price target for the company. Finally, Wells Fargo & Company boosted their target price on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Five research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

Insider Buying and Selling

In other news, insider Linda Pistecchia Kirkpatrick sold 959 shares of Mastercard stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $572.86, for a total transaction of $549,372.74. Following the sale, the insider owned 25,540 shares in the company, valued at $14,630,844.40. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Vosburg sold 14,051 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the sale, the insider directly owned 58,451 shares of the company's stock, valued at approximately $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,603 shares of company stock worth $20,265,667. Company insiders own 0.09% of the company's stock.

Mastercard Price Performance

Shares of NYSE:MA traded up $13.20 on Friday, hitting $574.42. The company had a trading volume of 2,907,568 shares, compared to its average volume of 2,832,254. The company has a market cap of $523.70 billion, a PE ratio of 38.73, a PEG ratio of 2.34 and a beta of 1.03. Mastercard Incorporated has a 52-week low of $453.46 and a 52-week high of $594.71. 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 has a 50 day moving average of $564.08 and a 200 day moving average of $552.92.

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

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 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 is Wednesday, July 9th. Mastercard's payout ratio is currently 20.50%.

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.