EFG Asset Management Americas Corp. Cuts Stock Position in Mastercard Incorporated (NYSE:MA)

Key Points

• EFG Asset Management Americas Corp. reduced its stake in Mastercard by 15.5%, owning 22,808 shares valued at approximately $12.5 million.
• A significant number of institutional investors have increased their positions in Mastercard, with FMR LLC reporting a 4.3% lift and GAMMA Investing LLC exhibiting a dramatic 65,631.5% increase in shares owned.
• Mastercard recently announced a quarterly dividend of $0.76, yielding 0.54%, with an ex-dividend date of July 9th.

EFG Asset Management Americas Corp. trimmed its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,808 shares of the credit services provider's stock after selling 4,168 shares during the period. Mastercard accounts for approximately 2.5% of EFG Asset Management Americas Corp.'s portfolio, making the stock its 8th largest position. EFG Asset Management Americas Corp.'s holdings in Mastercard were worth $12,501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Mastercard by 11.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock worth $37,108,000 after purchasing an additional 7,452 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Mastercard during the fourth quarter worth about $73,000. Trustco Bank Corp N Y purchased a new position in Mastercard during the fourth quarter worth about $211,000. Finally, Tradewinds LLC. purchased a new position in Mastercard during the fourth quarter worth about $265,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Craig Vosburg sold 14,051 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the transaction, the insider owned 58,451 shares of the company's stock, valued at $34,196,757.55. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of Mastercard 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 transaction, the insider directly owned 25,540 shares of the company's stock, valued at $14,630,844.40. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,753 shares of company stock worth $20,351,084. 0.09% of the stock is currently owned by insiders.

Mastercard Trading Down 1.2%

NYSE:MA traded down $6.74 during trading hours on Friday, reaching $559.73. 3,316,713 shares of the company were exchanged, compared to its average volume of 2,427,760. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.11. The firm 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 Incorporated has a 52-week low of $439.59 and a 52-week high of $594.71. The stock has a 50 day simple moving average of $564.58 and a 200 day simple moving average of $551.75.

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

Mastercard Announces Dividend

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

Analyst Upgrades and Downgrades

MA has been the subject of several analyst reports. Macquarie cut their price target on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Monness Crespi & Hardt lowered shares of Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Morgan Stanley upped their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday. KeyCorp upped their target price on shares of Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Evercore ISI started coverage on shares of Mastercard in a research report on Wednesday, April 9th. They set an "in-line" rating and a $550.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $615.33.

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.