Zweig DiMenna Associates LLC Reduces Stake in Mastercard Incorporated (NYSE:MA)

Key Points

• Zweig DiMenna Associates LLC has reduced its stake in Mastercard by 16.3%, selling 3,400 shares during the first quarter, and now holds 17,450 shares valued at approximately $9.57 million.
• Mastercard reported earnings of $3.73 per share for the last quarter, exceeding analysts' expectations, with revenue up 14.2% year-over-year.
• The company has announced a quarterly dividend of $0.76, reflecting an annualized yield of 0.54%, with the payment set for August 8th to shareholders of record.

Zweig DiMenna Associates LLC reduced its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,450 shares of the credit services provider's stock after selling 3,400 shares during the period. Mastercard accounts for about 1.5% of Zweig DiMenna Associates LLC's portfolio, making the stock its 24th largest holding. Zweig DiMenna Associates LLC's holdings in Mastercard were worth $9,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MA. Measured Risk Portfolios Inc. acquired a new position in shares of Mastercard during the 4th quarter worth about $31,000. Navigoe LLC bought a new stake in shares of Mastercard during the 4th quarter worth about $33,000. 10Elms LLP bought a new stake in shares of Mastercard during the 4th quarter worth about $33,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $34,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Mastercard during the 4th quarter worth about $36,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Down 0.2%

NYSE:MA traded down $1.20 during trading hours on Tuesday, reaching $567.09. The company had a trading volume of 860,709 shares, compared to its average volume of 2,806,602. 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 market cap of $517.02 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 2.46 and a beta of 1.02. The business's 50-day simple moving average is $565.27 and its two-hundred day simple moving average is $550.83. Mastercard Incorporated has a twelve month low of $439.59 and a twelve month high of $594.71.

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

Mastercard Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's dividend payout ratio is currently 21.32%.

Insider Buying and Selling at Mastercard

In related news, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction dated 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 directly owned 8,469 shares of the company's stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $572.86, for a total transaction of $549,372.74. Following the transaction, the insider directly owned 25,540 shares in the company, valued at $14,630,844.40. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,753 shares of company stock valued at $20,351,084 over the last three months. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on MA shares. KeyCorp lifted their target price on shares of Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a report 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 report on Wednesday, April 2nd. Truist Financial cut their price objective on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a report on Friday, June 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a report on Thursday, July 17th. They set a "buy" rating and a $650.00 price target for the company. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $612.90.

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.