Penobscot Investment Management Company Inc. Sells 401 Shares of Mastercard Incorporated $MA

Penobscot Investment Management Company Inc. lessened its position in shares of Mastercard Incorporated (NYSE:MA) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,332 shares of the credit services provider’s stock after selling 401 shares during the period. Mastercard comprises 1.7% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 12th largest position. Penobscot Investment Management Company Inc.’s holdings in Mastercard were worth $20,417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new position in shares of Mastercard in the 2nd quarter valued at about $26,000. Flaharty Asset Management LLC bought a new position in shares of Mastercard in the 1st quarter valued at about $27,000. Keystone Global Partners LLC bought a new position in shares of Mastercard in the 1st quarter valued at about $31,000. Hughes Financial Services LLC bought a new position in shares of Mastercard in the 1st quarter valued at about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard in the 1st quarter valued at about $44,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

NYSE MA opened at $581.08 on Friday. The firm’s fifty day moving average price is $580.26 and its two-hundred day moving average price is $561.67. The stock has a market cap of $525.30 billion, a PE ratio of 39.18, a PEG ratio of 2.37 and a beta of 0.97. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 earnings per share. On average, equities analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio is 20.50%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MA. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research note on Saturday, September 27th. Morgan Stanley raised their target price on shares of Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Wells Fargo & Company boosted their price objective on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Finally, Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Mastercard currently has an average rating of “Buy” and a consensus target price of $630.89.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julius Genachowski sold 312 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the sale, the director owned 8,469 shares in the company, valued at $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,391 shares of company stock worth $20,836,514 in the last ninety days. Insiders own 0.09% 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.