Huntington National Bank Increases Stock Holdings in Mastercard Incorporated $MA

Huntington National Bank raised its position in Mastercard Incorporated (NYSE:MA) by 1.1% during the second quarter, HoldingsChannel reports. The firm owned 52,635 shares of the credit services provider’s stock after purchasing an additional 563 shares during the period. Huntington National Bank’s holdings in Mastercard were worth $29,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new position in Mastercard in the 2nd quarter valued at $25,000. Family Legacy Financial Solutions LLC purchased a new position in Mastercard in the 2nd quarter valued at $26,000. Flaharty Asset Management LLC purchased a new position in Mastercard in the 1st quarter valued at $27,000. Keystone Global Partners LLC purchased a new position in Mastercard in the 1st quarter valued at $31,000. Finally, IMG Wealth Management Inc. purchased a new position in Mastercard in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Down 1.4%

Shares of NYSE:MA opened at $544.05 on Tuesday. The business has a 50-day moving average price of $575.44 and a 200 day moving average price of $568.63. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $491.83 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.27 and a beta of 0.97. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the company earned $3.89 EPS. Sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 19.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MA shares. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective on the stock. Wells Fargo & Company cut their target price on Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research note on Friday. Macquarie raised their target price on Mastercard from $655.00 to $660.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird raised their target price on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Morgan Stanley set a $665.00 target price on Mastercard and gave the stock an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $647.89.

Insider Activity

In related news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.