Rockland Trust Co. Raises Holdings in Mastercard Incorporated $MA

Key Points

• Rockland Trust increased its Mastercard stake by 6.2% in the third quarter, purchasing 4,751 additional shares and bringing its holdings to 81,392 shares worth approximately $44.9 million.
• Mastercard reported quarterly EPS of $5.04 and revenue of $9.28 billion, exceeding analyst expectations; revenue rose 14.1% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $680, while Mastercard declared a quarterly dividend of $0.87 per share.

Rockland Trust Co. increased its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,392 shares of the credit services provider's stock after purchasing an additional 4,751 shares during the quarter. Mastercard comprises about 1.7% of Rockland Trust Co.'s portfolio, making the stock its 15th biggest holding. Rockland Trust Co.'s holdings in Mastercard were worth $44,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Robinswood Financial LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $25,000. Hyposwiss Advisors SA bought a new position in shares of Mastercard in the fourth quarter valued at approximately $29,000. First Pacific Financial boosted its holdings in shares of Mastercard by 113.8% in the first quarter. First Pacific Financial now owns 62 shares of the credit services provider's stock valued at $31,000 after acquiring an additional 33 shares in the last quarter. Lifetime Wealth Management P.C. bought a new position in shares of Mastercard in the fourth quarter valued at approximately $33,000. Finally, Allied Private Wealth LLC acquired a new position in shares of Mastercard during the second quarter valued at approximately $34,000. Institutional investors own 97.28% of the company's stock.

Mastercard Trading Up 2.1%

NYSE MA traded up $11.67 on Monday, hitting $563.93. 978,872 shares of the stock were exchanged, compared to its average volume of 3,529,723. The company's 50-day moving average price is $571.56 and its two-hundred day moving average price is $528.68. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.06 and a quick ratio of 1.06. Mastercard Incorporated has a 52-week low of $464.52 and a 52-week high of $601.23. The company has a market capitalization of $494.01 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 1.58 and a beta of 0.76.

Mastercard (NYSE:MA - Get Free Report) last released its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.27. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the company earned $4.15 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts predict that Mastercard Incorporated will post 19.9 EPS for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be given a dividend of $0.87 per share. The ex-dividend date is Friday, October 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. Mastercard's dividend payout ratio (DPR) is presently 19.14%.

Insider Activity

In other news, CEO Michael Miebach sold 16,628 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $567.68, for a total value of $9,439,383.04. Following the transaction, the chief executive officer owned 115,921 shares in the company, valued at $65,806,033.28. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sachin Mehra sold 7,444 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $577.13, for a total transaction of $4,296,155.72. Following the completion of the sale, the insider directly owned 40,916 shares of the company's stock, valued at $23,613,851.08. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,618 shares of company stock worth $38,854,630 in the last 90 days. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MA shares. Loop Capital upped their target price on Mastercard from $631.00 to $647.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Wolfe Research boosted their price objective on Mastercard from $680.00 to $740.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 25th. Rothschild & Co Redburn cut their price objective on Mastercard from $710.00 to $688.00 and set a "buy" rating for the company in a report on Wednesday, September 2nd. Cantor Fitzgerald raised their target price on Mastercard from $650.00 to $695.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their target price on Mastercard from $642.00 to $696.00 and gave the stock an "outperform" rating in a report on Monday, August 31st. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Mastercard has a consensus rating of "Moderate Buy" and an average price target of $680.00.

Mastercard Profile

Mastercard Incorporated NYSE: MA is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses. The company facilitates the authorization, clearing and settlement of electronic payment transactions, while generally not issuing cards or extending credit itself. Its network supports payments made in stores, online and through mobile devices.

Mastercard's products and services include consumer and commercial payment cards, digital payment solutions, payment processing, fraud prevention, cybersecurity, identity verification, data and analytics, and open banking tools.

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