Parsons Capital Management Inc. RI lessened its stake in Mastercard Inc (NYSE:MA) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,160 shares of the credit services provider’s stock after selling 1,831 shares during the period. Parsons Capital Management Inc. RI’s holdings in Mastercard were worth $5,862,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of MA. Joseph P. Lucia & Associates LLC purchased a new stake in Mastercard in the 2nd quarter valued at approximately $26,000. Delphi Private Advisors LLC purchased a new stake in Mastercard in the 2nd quarter valued at approximately $31,000. Evolution Wealth Advisors LLC purchased a new stake in Mastercard in the 2nd quarter valued at approximately $31,000. Valley National Advisers Inc. lifted its stake in Mastercard by 210.9% in the 4th quarter. Valley National Advisers Inc. now owns 143 shares of the credit services provider’s stock valued at $27,000 after buying an additional 97 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in Mastercard in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.25% of the company’s stock.
MA has been the topic of a number of recent research reports. Wedbush upped their target price on Mastercard from $261.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Citigroup set a $317.00 price target on Mastercard and gave the stock a “buy” rating in a research note on Friday, July 19th. Oppenheimer increased their price target on Mastercard from $242.00 to $259.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Raymond James increased their price target on Mastercard from $300.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Barclays increased their price target on Mastercard from $310.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $291.80.
Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 EPS. As a group, equities analysts forecast that Mastercard Inc will post 7.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.49%. Mastercard’s payout ratio is 20.34%.
In other news, Vice Chairman Ann Cairns sold 51,850 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $259.80, for a total transaction of $13,470,630.00. Following the completion of the sale, the insider now directly owns 134,120 shares in the company, valued at approximately $34,844,376. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 15,890 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $272.06, for a total value of $4,323,033.40. Following the sale, the insider now owns 112,030,712 shares of the company’s stock, valued at $30,479,075,506.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,511 shares of company stock valued at $54,471,508. Insiders own 3.70% of the company’s stock.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
Featured Article: When can a hold rating present a buying opportunity?
Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.