Washington Trust Bank Boosts Position in Mastercard Incorporated (NYSE:MA)

Washington Trust Bank lifted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,288 shares of the credit services provider's stock after purchasing an additional 972 shares during the quarter. Mastercard accounts for approximately 2.2% of Washington Trust Bank's holdings, making the stock its 10th biggest holding. Washington Trust Bank's holdings in Mastercard were worth $21,535,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Mastercard during the 4th quarter valued at about $6,022,224,000. GAMMA Investing LLC raised its position in shares of Mastercard by 65,631.5% in the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after acquiring an additional 8,213,123 shares during the period. Northern Trust Corp raised its holdings in Mastercard by 15.2% during the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock worth $4,817,684,000 after buying an additional 1,207,787 shares during the period. Sanders Capital LLC acquired a new stake in Mastercard during the 4th quarter worth approximately $617,303,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Mastercard during the 4th quarter worth approximately $561,313,000. Institutional investors own 97.28% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $549,372.74. Following the sale, the insider directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $580.00, for a total transaction of $87,000.00. Following the sale, the insider directly owned 3,255 shares in the company, valued at $1,887,900. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,441 shares of company stock valued at $20,173,035 over the last 90 days. 0.09% of the stock is owned by company insiders.

Mastercard Stock Performance

Shares of MA traded down $3.83 during midday trading on Monday, reaching $565.41. 2,478,283 shares of the stock were exchanged, compared to its average volume of 2,669,836. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The company has a market cap of $515.49 billion, a P/E ratio of 39.65, a PEG ratio of 2.47 and a beta of 1.02. The stock's 50 day simple moving average is $566.83 and its 200 day simple moving average is $546.84.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.16. The business had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. Mastercard's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.31 earnings per share. On average, sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The business 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. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's dividend payout ratio (DPR) is presently 21.32%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Monness Crespi & Hardt downgraded shares of Mastercard from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Evercore ISI started coverage on shares of Mastercard in a research note on Wednesday, April 9th. They set an "in-line" rating and a $550.00 price target for the company. Truist Financial started coverage on shares of Mastercard in a research note on Monday, June 2nd. They set a "buy" rating and a $640.00 price target for the company. Macquarie decreased their price target on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $611.50.

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.