OVERSEA CHINESE BANKING Corp Ltd Sells 3,612 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Mastercard by 6.4%, owning 52,667 shares valued at approximately $28.86 million after selling 3,612 shares.
• Mastercard's recent earnings report showed $4.15 earnings per share, exceeding estimates, with revenue of $8.13 billion, representing a 16.8% year-over-year increase.
• The company has announced a quarterly dividend of $0.76 per share, which will be paid on August 8th, with a dividend yield of 0.5%.

OVERSEA CHINESE BANKING Corp Ltd cut its position in Mastercard Incorporated (NYSE:MA - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 52,667 shares of the credit services provider's stock after selling 3,612 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Mastercard were worth $28,855,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MA. Measured Risk Portfolios Inc. bought a new position in shares of Mastercard in the fourth quarter worth approximately $31,000. 10Elms LLP bought a new position in shares of Mastercard in the fourth quarter worth approximately $33,000. Hughes Financial Services LLC purchased a new position in shares of Mastercard in the first quarter worth $34,000. Navigoe LLC bought a new position in shares of Mastercard during the fourth quarter worth $33,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Mastercard during the fourth quarter worth $36,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a "buy" rating and a $650.00 target price for the company. The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a research report on Friday. UBS Group upped their target price on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada increased their price objective on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Mastercard currently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

Mastercard Stock Up 1.8%

NYSE MA traded up $9.84 during trading hours on Monday, hitting $569.73. 2,984,635 shares of the company traded hands, compared to its average volume of 2,593,600. The business's 50-day moving average is $564.58 and its 200-day moving average is $552.15. Mastercard Incorporated has a twelve month low of $439.59 and a twelve month high of $594.71. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $519.43 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 2.41 and a beta of 1.03.

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 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 analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.50 earnings per share. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently disclosed 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 of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's dividend payout ratio (DPR) is 20.50%.

Insider Transactions at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the sale, the insider owned 23,624 shares of the company's stock, valued at $13,229,440. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig Vosburg sold 9,428 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $353.05, for a total value of $3,328,555.40. Following the transaction, the insider directly owned 58,451 shares of the company's stock, valued at approximately $20,636,125.55. This represents a 13.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,753 shares of company stock worth $20,351,084. Insiders own 0.09% of the company's stock.

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.