Mastercard Incorporated (NYSE:MA) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. grew its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,657 shares of the credit services provider's stock after acquiring an additional 2,353 shares during the quarter. Mastercard comprises approximately 0.7% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 19th largest holding. Sumitomo Life Insurance Co.'s holdings in Mastercard were worth $18,996,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MA. Measured Risk Portfolios Inc. acquired a new position in Mastercard in the fourth quarter valued at approximately $31,000. Navigoe LLC purchased a new position in shares of Mastercard in the 4th quarter valued at about $33,000. 10Elms LLP purchased a new position in shares of Mastercard in the 4th quarter valued at about $33,000. Hughes Financial Services LLC acquired a new stake in Mastercard in the first quarter valued at approximately $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Mastercard in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday. Evercore ISI assumed coverage on shares of Mastercard in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price on the stock. Monness Crespi & Hardt lowered shares of Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating and issued a $633.00 target price on shares of Mastercard in a research report on Wednesday, April 2nd. Finally, Wall Street Zen lowered shares of Mastercard from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $611.50.

Insider Activity

In other news, insider Craig Vosburg sold 9,428 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $353.05, for a total value of $3,328,555.40. Following the completion of the sale, the insider owned 58,451 shares of the company's stock, valued at approximately $20,636,125.55. The trade was a 13.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Seshadri sold 1,100 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 12,921 shares of the company's stock, valued at $7,064,815.17. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,753 shares of company stock valued at $20,351,084 in the last 90 days. Company insiders own 0.09% of the company's stock.

Mastercard Trading Down 0.5%

Shares of MA stock traded down $2.69 during trading hours on Tuesday, hitting $550.33. 2,448,991 shares of the company were exchanged, compared to its average volume of 2,668,942. The firm has a market cap of $501.74 billion, a PE ratio of 38.59, a PEG ratio of 2.40 and a beta of 1.02. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The firm has a fifty day moving average of $568.07 and a 200 day moving average of $548.00.

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. The business 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%. The company's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.31 EPS. Analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be paid a $0.76 dividend. 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 dividend payout ratio (DPR) is presently 21.32%.

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.