Meiji Yasuda Asset Management Co Ltd. reduced its position in Mastercard Incorporated (NYSE:MA) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,731 shares of the credit services provider’s stock after selling 330 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Mastercard were worth $4,244,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MA. Lipe & Dalton acquired a new position in shares of Mastercard during the 1st quarter valued at about $101,000. Kistler Tiffany Companies LLC boosted its stake in Mastercard by 10.9% during the 1st quarter. Kistler Tiffany Companies LLC now owns 1,019 shares of the credit services provider’s stock valued at $115,000 after purchasing an additional 100 shares during the period. First Bank & Trust boosted its stake in Mastercard by 14.5% during the 1st quarter. First Bank & Trust now owns 1,300 shares of the credit services provider’s stock valued at $146,000 after purchasing an additional 165 shares during the period. Tarbox Group Inc. boosted its stake in Mastercard by 323.8% during the 1st quarter. Tarbox Group Inc. now owns 1,352 shares of the credit services provider’s stock valued at $152,000 after purchasing an additional 1,033 shares during the period. Finally, Welch Group LLC boosted its stake in Mastercard by 1.2% during the 1st quarter. Welch Group LLC now owns 1,625 shares of the credit services provider’s stock valued at $183,000 after purchasing an additional 20 shares during the period. 76.04% of the stock is currently owned by institutional investors.
Mastercard Incorporated (NYSE MA) opened at 141.89 on Friday. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $143.59. The firm’s 50-day moving average price is $133.90 and its 200-day moving average price is $122.61. The firm has a market cap of $151.10 billion, a P/E ratio of 35.21 and a beta of 1.18.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. Mastercard’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. On average, equities research analysts expect that Mastercard Incorporated will post $4.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, October 5th. Mastercard’s dividend payout ratio (DPR) is presently 21.78%.
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In related news, CFO Martina Hundmejean sold 91,107 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the transaction, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 29,206 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $127.63, for a total transaction of $3,727,561.78. Following the transaction, the insider now directly owns 112,649,063 shares of the company’s stock, valued at $14,377,399,910.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 850,468 shares of company stock worth $109,574,694. Corporate insiders own 0.30% of the company’s stock.
A number of brokerages have commented on MA. Royal Bank Of Canada reiterated a “buy” rating and issued a $156.00 price objective on shares of Mastercard in a research report on Friday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $150.00 price objective (up previously from $143.00) on shares of Mastercard in a research report on Friday, September 8th. Oppenheimer Holdings, Inc. raised their price objective on Mastercard and gave the stock an “outperform” rating in a research report on Tuesday, July 18th. BidaskClub upgraded Mastercard from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $141.47.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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