Mastercard (NYSE:MA) Shares Down 0.7% After Insider Selling

Shares of Mastercard Incorporated (NYSE:MA) were down 0.7% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $464.77 and last traded at $466.01. Approximately 388,419 shares changed hands during trading, a decline of 84% from the average daily volume of 2,467,045 shares. The stock had previously closed at $469.12.

Specifically, major shareholder Foundation Mastercard sold 109,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the transaction, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MA. Piper Sandler lifted their target price on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays upped their target price on shares of Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a report on Monday, August 5th. KeyCorp boosted their price target on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Morgan Stanley decreased their price objective on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada upped their price target on Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and an average price target of $512.09.

Mastercard Trading Down 0.7 %

The firm has a market cap of $433.21 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The business has a 50 day moving average of $449.32 and a 200 day moving average of $458.33. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.57%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Hedge Funds Weigh In On Mastercard

Several institutional investors and hedge funds have recently modified their holdings of the company. Westend Capital Management LLC acquired a new stake in shares of Mastercard during the first quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in shares of Mastercard during the 1st quarter valued at $27,000. VitalStone Financial LLC increased its holdings in shares of Mastercard by 300.0% during the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after buying an additional 45 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Mastercard in the 4th quarter worth $26,000. Finally, Scarborough Advisors LLC acquired a new position in Mastercard in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

About Mastercard

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.