State of Michigan Retirement System Has $140.20 Million Stock Position in Mastercard Incorporated (NYSE:MA)

State of Michigan Retirement System decreased its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 0.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 255,781 shares of the credit services provider's stock after selling 1,500 shares during the quarter. Mastercard accounts for about 0.8% of State of Michigan Retirement System's investment portfolio, making the stock its 20th largest holding. State of Michigan Retirement System's holdings in Mastercard were worth $140,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MA. Brighton Jones LLC raised its stake in shares of Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock worth $37,108,000 after purchasing an additional 7,452 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Mastercard by 51.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,954 shares of the credit services provider's stock worth $1,555,000 after purchasing an additional 1,006 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Mastercard by 12.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 20,765 shares of the credit services provider's stock worth $10,934,000 after purchasing an additional 2,298 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of Mastercard by 62.5% during the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider's stock worth $34,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Stock Performance

MA opened at $564.34 on Friday. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $594.71. The firm has a market capitalization of $514.51 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The stock's 50 day moving average price is $568.60 and its two-hundred day moving average price is $547.57. 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 (NYSE:MA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the firm earned $3.31 EPS. Mastercard's revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, July 9th. Mastercard's payout ratio is presently 21.32%.

Analyst Ratings Changes

MA has been the subject of a number of recent research reports. Monness Crespi & Hardt downgraded Mastercard from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Wolfe Research set a $655.00 price target on Mastercard in a research note on Monday, June 23rd. KeyCorp raised their price target on Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $633.00 price objective on shares of Mastercard in a research note on Wednesday, April 2nd. Finally, 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. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mastercard presently has an average rating of "Moderate Buy" and a consensus price target of $611.50.

Insider Transactions at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of Mastercard stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the sale, the insider owned 58,451 shares of the company's stock, valued at approximately $20,636,125.55. This trade represents a 13.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,753 shares of company stock worth $20,351,084 over the last quarter. 0.09% of the stock is owned by company insiders.

About Mastercard

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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