State Street Corp Sells 480,944 Shares of Mastercard Incorporated $MA

State Street Corp decreased its holdings in Mastercard Incorporated (NYSE:MA) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,582,838 shares of the credit services provider’s stock after selling 480,944 shares during the period. Mastercard comprises approximately 0.7% of State Street Corp’s investment portfolio, making the stock its 18th biggest holding. State Street Corp’s holdings in Mastercard were worth $19,995,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in Mastercard in the 2nd quarter valued at $25,000. Family Legacy Financial Solutions LLC bought a new position in shares of Mastercard in the second quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Keystone Global Partners LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $31,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Mastercard during the 2nd quarter worth about $31,000. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Performance

Shares of Mastercard stock opened at $539.47 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.40. The company has a market cap of $484.45 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. The company has a 50 day moving average of $555.98 and a 200-day moving average of $566.79. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, beating the consensus estimate of $4.31 by $0.07. Mastercard had a net margin of 45.28% and a return on equity of 202.03%. The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the previous year, the business earned $3.89 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $665.00 price objective on shares of Mastercard and gave the stock an “overweight” rating in a research report on Friday, October 31st. Robert W. Baird increased 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. TD Cowen restated a “buy” rating and issued a $645.00 price target on shares of Mastercard in a research note on Monday, August 11th. KeyCorp reaffirmed an “overweight” rating and issued a $665.00 price objective on shares of Mastercard in a report on Wednesday, October 22nd. Finally, Macquarie lifted their target price on Mastercard from $655.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $652.50.

Mastercard Company 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.