Fairbanks Capital Management Inc. Lowers Holdings in Mastercard Incorporated (NYSE:MA)

Fairbanks Capital Management Inc. cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,815 shares of the credit services provider’s stock after selling 465 shares during the quarter. Mastercard makes up 3.6% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Fairbanks Capital Management Inc.’s holdings in Mastercard were worth $5,208,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cross Staff Investments Inc raised its position in Mastercard by 16.3% in the 4th quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock valued at $1,343,000 after purchasing an additional 441 shares during the last quarter. J.Safra Asset Management Corp increased its stake in shares of Mastercard by 7.2% in the fourth quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock valued at $209,000 after buying an additional 33 shares in the last quarter. Fortune Financial Advisors LLC raised its holdings in shares of Mastercard by 4.5% in the fourth quarter. Fortune Financial Advisors LLC now owns 7,853 shares of the credit services provider’s stock valued at $3,350,000 after buying an additional 339 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its position in Mastercard by 1.5% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 42,752 shares of the credit services provider’s stock worth $18,041,000 after buying an additional 612 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Mastercard by 15.6% during the 4th quarter. Intech Investment Management LLC now owns 24,452 shares of the credit services provider’s stock worth $10,429,000 after acquiring an additional 3,306 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the transaction, the insider now directly owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Sandra A. Arkell sold 300 shares of Mastercard stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $454.00, for a total value of $136,200.00. Following the sale, the insider now directly owns 3,463 shares in the company, valued at $1,572,202. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. Insiders sold 2,720,228 shares of company stock worth $1,224,758,080 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Mastercard Trading Up 1.4 %

Mastercard stock traded up $6.15 during mid-day trading on Tuesday, hitting $447.45. 2,261,106 shares of the company’s stock were exchanged, compared to its average volume of 2,488,075. The company’s 50 day simple moving average is $445.90 and its 200-day simple moving average is $456.31. 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 capitalization of $415.95 billion, a P/E ratio of 35.57, a PEG ratio of 1.73 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 results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter last year, the firm posted $2.80 earnings per share. Mastercard’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Mastercard Incorporated will post 14.25 earnings per share 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 paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s payout ratio is currently 20.99%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America downgraded shares of Mastercard from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $505.00 to $480.00 in a research note on Wednesday, July 10th. Evercore ISI dropped their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Piper Sandler assumed coverage on Mastercard in a report on Monday, May 13th. They set an “overweight” rating and a $531.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Mastercard from $510.00 to $500.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. Finally, Susquehanna reaffirmed a “positive” rating and set a $535.00 price target on shares of Mastercard in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average price target of $501.23.

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.