Bank of Nova Scotia Grows Stock Position in Mastercard Incorporated (NYSE:MA)

Bank of Nova Scotia grew its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 793,820 shares of the credit services provider’s stock after purchasing an additional 21,390 shares during the quarter. Bank of Nova Scotia owned approximately 0.08% of Mastercard worth $289,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. increased its position in shares of Mastercard by 196.3% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 80 shares of the credit services provider’s stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Paragon Wealth Strategies LLC bought a new stake in Mastercard during the 2nd quarter worth approximately $34,000. Rocky Mountain Advisers LLC bought a new stake in Mastercard during the 2nd quarter worth approximately $36,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Mastercard during the first quarter valued at approximately $36,000. Finally, Harbour Investments Inc. bought a new position in shares of Mastercard in the first quarter worth approximately $37,000. 73.97% of the stock is owned by hedge funds and other institutional investors.

In other Mastercard news, Vice Chairman Ann Cairns sold 15,197 shares of the stock in a transaction on Tuesday, July 13th. The stock was sold at an average price of $380.80, for a total value of $5,787,017.60. Following the sale, the insider now owns 129,443 shares in the company, valued at $49,291,894.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 78,985 shares of the stock in a transaction on Monday, August 16th. The stock was sold at an average price of $358.90, for a total value of $28,347,716.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 872,777 shares of company stock worth $328,809,430. Insiders own 0.33% of the company’s stock.

NYSE:MA traded up $0.33 during midday trading on Monday, hitting $358.49. 18,258 shares of the company traded hands, compared to its average volume of 3,782,158. The firm’s fifty day moving average is $360.75 and its 200-day moving average is $367.85. Mastercard Incorporated has a 12-month low of $281.20 and a 12-month high of $401.50. The firm has a market capitalization of $353.75 billion, a P/E ratio of 49.74, a P/E/G ratio of 1.98 and a beta of 1.16. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.03.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 29th. The credit services provider reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.23. Mastercard had a return on equity of 109.48% and a net margin of 43.22%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.35 billion. On average, research analysts expect that Mastercard Incorporated will post 8.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 9th. Shareholders of record on Friday, October 8th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $1.76 dividend on an annualized basis and a yield of 0.49%. Mastercard’s payout ratio is 27.37%.

A number of research analysts recently weighed in on MA shares. Compass Point lifted their target price on shares of Mastercard from $430.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, July 30th. JPMorgan Chase & Co. boosted their price objective on Mastercard from $427.00 to $430.00 and gave the company an “overweight” rating in a research report on Tuesday, August 17th. Morgan Stanley increased their target price on Mastercard from $444.00 to $451.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. BMO Capital Markets upped their price target on Mastercard from $427.00 to $429.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Finally, Robert W. Baird restated a “buy” rating and issued a $482.00 price target on shares of Mastercard in a research note on Sunday, August 1st. Two research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Mastercard presently has a consensus rating of “Buy” and a consensus target price of $418.48.

About Mastercard

Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.

Further Reading: Liquidity

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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