State of Alaska Department of Revenue Lowers Position in Mastercard Incorporated $MA

Key Points

• The State of Alaska Department of Revenue has reduced its holdings in Mastercard by 3.5%, now owning 121,058 shares valued at approximately $68 million.
• Mastercard reported an EPS of $4.15 for the last quarter, surpassing expectations and showing a 16.8% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.76, with an ex-dividend date set for October 9th.

State of Alaska Department of Revenue trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,058 shares of the credit services provider's stock after selling 4,375 shares during the period. Mastercard comprises 0.7% of State of Alaska Department of Revenue's investment portfolio, making the stock its 16th largest position. State of Alaska Department of Revenue's holdings in Mastercard were worth $68,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MA. Kingstone Capital Partners Texas LLC acquired a new position in Mastercard during the second quarter valued at approximately $11,421,213,000. GAMMA Investing LLC lifted its position in Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after buying an additional 8,213,123 shares in the last quarter. Nuveen LLC acquired a new position in Mastercard during the first quarter valued at approximately $4,238,764,000. Wellington Management Group LLP lifted its position in Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock valued at $7,413,936,000 after buying an additional 3,765,378 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Mastercard by 3,493.6% during the second quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider's stock valued at $524,914,000 after buying an additional 908,116 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Down 0.3%

MA opened at $565.63 on Friday. The stock has a market capitalization of $511.34 billion, a PE ratio of 38.14, a P/E/G ratio of 2.33 and a beta of 0.99. The firm's fifty day moving average price is $579.00 and its 200 day moving average price is $560.04. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. As a group, research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard's dividend payout ratio is currently 20.50%.

Insider Activity at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the company's stock in a transaction on 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 of the company's stock, valued at $13,229,440. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julius Genachowski sold 312 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares of the company's stock, 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. Insiders have sold 36,349 shares of company stock valued at $21,372,994 over the last ninety days. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MA shares. Royal Bank Of Canada lifted their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. TD Cowen reissued a "buy" rating and set a $645.00 target price on shares of Mastercard in a research report on Monday, August 11th. KeyCorp boosted their target price on shares of Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their target price on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Truist Financial reduced their target price on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $630.89.

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.

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