Overbrook Management Corp Sells 6,881 Shares of Mastercard Incorporated (NYSE:MA)

Overbrook Management Corp reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 89.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 773 shares of the credit services provider’s stock after selling 6,881 shares during the period. Overbrook Management Corp’s holdings in Mastercard were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Mastercard during the 4th quarter worth about $4,595,559,000. International Assets Investment Management LLC increased its stake in Mastercard by 43,445.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,936,684 shares of the credit services provider’s stock valued at $1,252,525,000 after acquiring an additional 2,929,940 shares during the period. Vanguard Group Inc. raised its holdings in Mastercard by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after acquiring an additional 742,076 shares in the last quarter. Capital International Investors lifted its position in shares of Mastercard by 3.3% in the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after acquiring an additional 676,452 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Mastercard by 4.7% during the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after purchasing an additional 605,909 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MA. JPMorgan Chase & Co. cut their target price on Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Piper Sandler started coverage on shares of Mastercard in a research report on Monday, May 13th. They set an “overweight” rating and a $531.00 target price on the stock. Morgan Stanley dropped their price target on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen assumed coverage on Mastercard in a report on Thursday, April 11th. They set a “buy” rating and a $545.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price target on Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and an average target price of $496.91.

Mastercard Trading Down 2.0 %

NYSE MA traded down $9.25 during trading on Thursday, reaching $443.13. 3,313,834 shares of the stock traded hands, compared to its average volume of 2,447,406. The stock’s 50-day moving average price is $452.02 and its 200 day moving average price is $452.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. The firm has a market cap of $411.94 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $490.00.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the prior year, the company earned $2.80 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts predict that Mastercard Incorporated will post 14.26 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Tuesday, July 9th. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Insiders Place Their Bets

In other news, insider Sandra A. Arkell sold 300 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $447.23, for a total value of $134,169.00. Following the completion of the sale, the insider now directly owns 4,063 shares of the company’s stock, valued at $1,817,095.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Mastercard news, insider Sandra A. Arkell sold 300 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $447.23, for a total value of $134,169.00. Following the transaction, the insider now directly owns 4,063 shares in the company, valued at $1,817,095.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 111,000 shares of Mastercard stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $457.15, for a total transaction of $50,743,650.00. Following the sale, the insider now directly owns 97,432,308 shares of the company’s stock, valued at approximately $44,541,179,602.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,163,228 shares of company stock valued at $1,428,540,870. 0.10% of the stock is currently owned by corporate insiders.

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.