Mastercard Incorporated (NYSE:MA) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,781 shares of the credit services provider's stock after selling 1,500 shares during the quarter. Mastercard accounts for 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 and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. BlackDiamond Wealth Management LLC raised its holdings in Mastercard by 2.3% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 846 shares of the credit services provider's stock worth $445,000 after purchasing an additional 19 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC raised its holdings in Mastercard by 2.6% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 736 shares of the credit services provider's stock worth $388,000 after purchasing an additional 19 shares in the last quarter. Strategy Asset Managers LLC raised its holdings in Mastercard by 2.1% during the fourth quarter. Strategy Asset Managers LLC now owns 911 shares of the credit services provider's stock worth $480,000 after purchasing an additional 19 shares in the last quarter. Phillips Wealth Planners LLC raised its holdings in Mastercard by 1.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock worth $538,000 after purchasing an additional 19 shares in the last quarter. Finally, Alta Wealth Advisors LLC raised its holdings in Mastercard by 3.6% during the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock worth $296,000 after purchasing an additional 19 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MA. Wall Street Zen cut shares of Mastercard from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. KeyCorp increased their target price on shares of Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Truist Financial began coverage on shares of Mastercard in a report on Monday, June 2nd. They issued a "buy" rating and a $640.00 target price for the company. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $633.00 target price on shares of Mastercard in a report on Wednesday, April 2nd. Finally, UBS Group increased their target price on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $611.50.

Mastercard Trading Up 0.5%

NYSE MA traded up $2.94 during mid-day trading on Monday, reaching $553.12. 2,500,716 shares of the stock were exchanged, compared to its average volume of 2,864,751. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71. The business's fifty day simple moving average is $568.42 and its 200 day simple moving average is $547.84. The stock has a market capitalization of $504.28 billion, a PE ratio of 38.79, a PEG ratio of 2.39 and a beta of 1.02. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.16. The company had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. Mastercard's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the business earned $3.31 EPS. On average, research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. Mastercard's payout ratio is 21.32%.

Insider Buying and Selling at Mastercard

In related news, Director Julius Genachowski sold 312 shares of Mastercard 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 transaction, the director owned 8,469 shares in the company, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the insider owned 12,921 shares in the company, valued at $7,064,815.17. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,753 shares of company stock worth $20,351,084. Insiders own 0.09% of the company's stock.

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.