Midwest Professional Planners LTD. Raises Holdings in Mastercard Incorporated (NYSE:MA)

Midwest Professional Planners LTD. grew its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,765 shares of the credit services provider's stock after purchasing an additional 542 shares during the quarter. Midwest Professional Planners LTD.'s holdings in Mastercard were worth $3,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Mastercard during the 4th quarter worth approximately $6,022,224,000. GAMMA Investing LLC increased its holdings in Mastercard by 65,631.5% during the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock worth $4,508,636,000 after purchasing an additional 8,213,123 shares in the last quarter. Northern Trust Corp increased 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 purchasing an additional 1,207,787 shares in the last quarter. Sanders Capital LLC bought a new stake in Mastercard during the 4th quarter worth approximately $617,303,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Mastercard during the 4th quarter worth approximately $561,313,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total transaction of $601,447.00. Following the transaction, the insider directly owned 12,921 shares in the company, valued at $7,064,815.17. The trade was a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the sale, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,753 shares of company stock valued at $20,351,084. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

MA has been the topic of several research analyst reports. Truist Financial initiated coverage on Mastercard in a research note on Monday, June 2nd. They issued a "buy" rating and a $640.00 price objective on the stock. The Goldman Sachs Group restated a "buy" rating and set a $633.00 target price on shares of Mastercard in a research report on Wednesday, April 2nd. Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday. Evercore ISI began coverage on Mastercard in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price objective on the stock. Finally, Macquarie lowered their price objective on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $611.50.

Mastercard Price Performance

NYSE MA traded down $2.69 during trading on Tuesday, hitting $550.33. 2,448,991 shares of the stock traded hands, compared to its average volume of 2,668,942. The company has a market capitalization of $501.74 billion, a P/E ratio of 38.59, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. The firm has a 50-day simple moving average of $568.26 and a 200-day simple moving average of $547.98. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $594.71.

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

Mastercard Dividend Announcement

The firm 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 dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's dividend payout ratio is currently 21.32%.

Mastercard Company 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.