Mastercard Incorporated (NYSE:MA) Shares Sold by Weitz Investment Management Inc.

Key Points

• Weitz Investment Management Inc. reduced its stake in Mastercard by 4.3%, now holding 179,070 shares worth approximately $98 million.
• Analysts have varying ratings for Mastercard with 25 buy ratings, 5 hold ratings, and a current average price target of $615.33.
• The company reported earnings of $4.15 per share for the last quarter, exceeding expectations and marking a 16.8% year-over-year revenue increase.

Weitz Investment Management Inc. cut its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,070 shares of the credit services provider's stock after selling 8,000 shares during the quarter. Mastercard makes up 5.2% of Weitz Investment Management Inc.'s portfolio, making the stock its 4th biggest holding. Weitz Investment Management Inc.'s holdings in Mastercard were worth $98,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MA. Measured Risk Portfolios Inc. bought a new stake in Mastercard in the fourth quarter worth approximately $31,000. Navigoe LLC acquired a new stake in shares of Mastercard in the 4th quarter valued at $33,000. 10Elms LLP bought a new stake in Mastercard in the fourth quarter worth $33,000. Hughes Financial Services LLC bought a new stake in Mastercard in the first quarter worth $34,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Mastercard during the fourth quarter valued at about $36,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MA has been the subject of several recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Mastercard in a research note on Friday. KeyCorp upped their target price on Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday. Wells Fargo & Company lifted 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. 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 note on Thursday, July 17th. Finally, Evercore ISI initiated coverage on shares of Mastercard in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard currently has an average rating of "Moderate Buy" and an average price target of $615.33.

Insider Buying and Selling

In other Mastercard news, insider Craig Vosburg sold 9,428 shares of Mastercard stock in a transaction on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the transaction, the insider directly owned 58,451 shares of the company's stock, valued at approximately $20,636,125.55. This trade represents a 13.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the sale, the director directly owned 8,469 shares in the company, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,753 shares of company stock valued at $20,351,084. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Performance

Shares of NYSE MA opened at $559.73 on Monday. Mastercard Incorporated has a one year low of $439.59 and a one year 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 fifty day simple moving average of $564.58 and a 200 day simple moving average of $552.15. The firm has a market capitalization of $510.31 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.41 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 earnings per share (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 company had revenue of $8.13 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the prior year, the company posted $3.50 EPS. The business's revenue was up 16.8% on a year-over-year basis. Sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, July 9th. Mastercard's dividend 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.

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