Veritas Asset Management LLP Reduces Stake in Mastercard Incorporated (NYSE:MA)

Veritas Asset Management LLP lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,446,272 shares of the credit services provider’s stock after selling 18,641 shares during the period. Mastercard makes up 5.3% of Veritas Asset Management LLP’s investment portfolio, making the stock its 8th biggest holding. Veritas Asset Management LLP owned about 0.16% of Mastercard worth $714,169,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Mastercard by 46.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,785 shares of the credit services provider’s stock valued at $7,120,000 after acquiring an additional 4,685 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of Mastercard in the 1st quarter valued at approximately $27,000. Magnolia Capital Advisors LLC raised its holdings in shares of Mastercard by 12.7% in the 1st quarter. Magnolia Capital Advisors LLC now owns 878 shares of the credit services provider’s stock worth $400,000 after buying an additional 99 shares in the last quarter. FORA Capital LLC lifted its position in shares of Mastercard by 21.7% during the 1st quarter. FORA Capital LLC now owns 3,227 shares of the credit services provider’s stock worth $1,554,000 after buying an additional 576 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC acquired a new stake in Mastercard in the 1st quarter valued at $1,569,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. William Blair raised shares of Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Citigroup upped their price objective on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Compass Point initiated coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price for the company. Finally, Robert W. Baird increased their price target on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $537.92.

Mastercard Trading Up 1.7 %

Shares of Mastercard stock traded up $8.49 during trading on Friday, reaching $508.08. 3,753,713 shares of the company were exchanged, compared to its average volume of 2,291,134. Mastercard Incorporated has a twelve month low of $378.48 and a twelve month high of $527.90. The business has a 50-day moving average price of $495.77 and a 200-day moving average price of $466.89. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $469.38 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 2.21 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.39 EPS. Sell-side analysts anticipate that Mastercard Incorporated will post 14.35 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 19.97%.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the sale, the insider now owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at approximately $7,363,085.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock worth $159,610,703 in the last quarter. Corporate insiders own 0.10% 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.