Novem Group Trims Stock Position in Mastercard Incorporated $MA

Key Points

• Novem Group reduced its stake in Mastercard (NYSE:MA) by 11.5%, selling 592 shares during the second quarter, bringing its total to 4,538 shares worth about $2.55 million.
• Mastercard's quarterly earnings report showed earnings per share of $4.15, exceeding the consensus estimate by $0.10, with revenues surpassing projections at $8.13 billion.
• The company declared a quarterly dividend of $0.76 per share, with the ex-dividend date set for October 9th, representing an annualized yield of 0.5%.

Novem Group cut its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 11.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,538 shares of the credit services provider's stock after selling 592 shares during the quarter. Novem Group's holdings in Mastercard were worth $2,550,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MA. Ethos Financial Group LLC grew its position in Mastercard by 19.5% during the first quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider's stock worth $1,683,000 after buying an additional 518 shares during the period. Fortis Advisors LLC grew its position in Mastercard by 9.4% during the first quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock worth $477,000 after buying an additional 75 shares during the period. Canandaigua National Trust Co of Florida grew its position in Mastercard by 36.4% during the first quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock worth $380,000 after buying an additional 185 shares during the period. Kingswood Wealth Advisors LLC grew its position in Mastercard by 18.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock worth $3,766,000 after buying an additional 1,047 shares during the period. Finally, YHB Investment Advisors Inc. grew its position in Mastercard by 2.1% during the second quarter. YHB Investment Advisors Inc. now owns 4,251 shares of the credit services provider's stock worth $2,389,000 after buying an additional 86 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MA. Wolfe Research set a $655.00 price target on shares of Mastercard in a report on Monday, June 23rd. TD Cowen reaffirmed a "buy" rating and issued a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. KeyCorp upped their price target on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Seaport Res Ptn raised shares of Mastercard from a "hold" rating to a "strong-buy" rating in a report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $630.89.

Mastercard Price Performance

Mastercard stock opened at $567.36 on Friday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The firm has a fifty day moving average of $578.74 and a 200-day moving average of $559.77. The firm has a market capitalization of $512.90 billion, a P/E ratio of 38.26, a PEG ratio of 2.33 and a beta of 0.99. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 earnings per share. 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, November 7th. Stockholders of record on Thursday, October 9th will be given 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 is Thursday, October 9th. Mastercard's dividend payout ratio (DPR) is presently 20.50%.

Insider Transactions at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of Mastercard 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 directly owned 23,624 shares in the company, valued at $13,229,440. This trade represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the sale, the director owned 8,469 shares in the company, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,349 shares of company stock worth $21,372,994. 0.09% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.