Bridges Investment Management Inc. Has $216.23 Million Position in Mastercard Incorporated (NYSE:MA)

Bridges Investment Management Inc. reduced its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 394,500 shares of the credit services provider's stock after selling 9,187 shares during the period. Mastercard comprises approximately 3.1% of Bridges Investment Management Inc.'s portfolio, making the stock its 7th largest position. Bridges Investment Management Inc.'s holdings in Mastercard were worth $216,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whalerock Point Partners LLC lifted its stake in Mastercard by 1.3% in the fourth quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider's stock valued at $7,729,000 after buying an additional 185 shares during the last quarter. Fortis Advisors LLC raised its position in Mastercard by 9.4% in 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 during the last quarter. Canandaigua National Trust Co of Florida boosted its stake 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 worth $380,000 after purchasing an additional 185 shares during the period. Kingswood Wealth Advisors LLC grew its position in Mastercard by 18.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock worth $3,766,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Baldwin Investment Management LLC increased its stake in Mastercard by 5.7% in the fourth quarter. Baldwin Investment Management LLC now owns 1,731 shares of the credit services provider's stock valued at $911,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Buying and Selling

In related news, Director Julius Genachowski sold 312 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares in the company, valued at $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $549,372.74. Following the completion of the transaction, the insider owned 25,540 shares of the company's stock, valued at approximately $14,630,844.40. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,753 shares of company stock valued at $20,351,084. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. KeyCorp lifted their target price on Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Mastercard from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Monness Crespi & Hardt lowered Mastercard from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $633.00 target price on shares of Mastercard in a research report on Wednesday, April 2nd. Finally, Citigroup raised their price target on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard has an average rating of "Moderate Buy" and an average price target of $611.50.

Mastercard Trading Up 0.3%

NYSE MA traded up $1.92 during trading hours on Wednesday, hitting $564.36. 2,453,888 shares of the company's stock were exchanged, compared to its average volume of 2,678,343. The firm has a market capitalization of $514.53 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $594.71. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50 day moving average is $567.91 and its 200-day moving average is $547.21.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the firm posted $3.31 earnings per share. The firm's revenue was up 14.2% on a year-over-year basis. As a group, analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. Mastercard's payout ratio is currently 21.32%.

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.