Mastercard Incorporated (NYSE:MA) Shares Purchased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its holdings in Mastercard by 133.6% in the first quarter, acquiring 239,853 additional shares valued at approximately $229.9 million.
• Mastercard's most recent quarterly earnings report showed $4.15 EPS, surpassing analysts' estimates, with revenue increasing 16.8% year-over-year.
• The company declared a quarterly dividend of $0.76 per share, reflecting an annualized dividend yield of 0.5%.

Bank of Nova Scotia boosted its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 133.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 419,363 shares of the credit services provider's stock after buying an additional 239,853 shares during the quarter. Bank of Nova Scotia's holdings in Mastercard were worth $229,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Measured Risk Portfolios Inc. purchased a new position in Mastercard in the fourth quarter valued at $31,000. 10Elms LLP purchased a new stake in Mastercard during the 4th quarter worth about $33,000. Hughes Financial Services LLC acquired a new position in shares of Mastercard during the 1st quarter worth about $34,000. Navigoe LLC purchased a new position in shares of Mastercard in the 4th quarter valued at about $33,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Mastercard during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insiders Place Their Bets

In other news, insider Craig Vosburg sold 14,051 shares of the company'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 transaction, the insider directly owned 58,451 shares of the company's stock, valued at $34,196,757.55. This represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $572.86, for a total transaction of $549,372.74. Following the completion of the sale, the insider owned 25,540 shares of the company's stock, valued at $14,630,844.40. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,753 shares of company stock worth $20,351,084. Insiders own 0.09% of the company's stock.

Mastercard Stock Down 1.2%

Shares of NYSE:MA opened at $559.73 on Friday. Mastercard Incorporated has a fifty-two week low of $439.59 and a fifty-two week high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm's 50-day simple moving average is $564.58 and its 200-day simple moving average is $551.75. The company has a market cap of $510.31 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.46 and a beta of 1.03.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the firm earned $3.50 earnings per share. The firm's revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be paid a $0.76 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard's payout ratio is 21.32%.

Analyst Ratings Changes

MA has been the subject of a number of research analyst reports. Wall Street Zen raised Mastercard from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Jefferies Financial Group restated a "buy" rating on shares of Mastercard in a report on Friday, June 6th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Mastercard in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday. Finally, KeyCorp raised their price objective on Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and a consensus price target of $615.33.

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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