State of Tennessee Treasury Department decreased its position in shares of Mastercard Incorporated (NYSE:MA) by 33.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,475 shares of the credit services provider’s stock after selling 178,558 shares during the period. State of Tennessee Treasury Department’s holdings in Mastercard were worth $39,193,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Northwest Quadrant Wealth Management LLC acquired a new stake in Mastercard during the fourth quarter valued at approximately $243,000. Smith Shellnut Wilson LLC ADV acquired a new stake in Mastercard during the fourth quarter valued at approximately $379,000. Cim Investment Mangement Inc. raised its stake in Mastercard by 1.1% in the fourth quarter. Cim Investment Mangement Inc. now owns 13,105 shares of the credit services provider’s stock valued at $1,353,000 after buying an additional 147 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Mastercard during the fourth quarter valued at approximately $399,000. Finally, First Allied Advisory Services Inc. raised its stake in Mastercard by 9.8% in the fourth quarter. First Allied Advisory Services Inc. now owns 24,921 shares of the credit services provider’s stock valued at $2,573,000 after buying an additional 2,215 shares during the last quarter. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mastercard Incorporated (MA) traded down 0.05% during mid-day trading on Friday, reaching $129.82. 2,208,103 shares of the company’s stock were exchanged. The company has a market capitalization of $138.24 billion, a PE ratio of 32.21 and a beta of 1.17. The company’s 50-day moving average price is $124.99 and its 200-day moving average price is $116.49. Mastercard Incorporated has a one year low of $94.41 and a one year high of $132.20.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts expect that Mastercard Incorporated will post $4.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, July 5th. Mastercard’s payout ratio is 21.78%.
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Several equities research analysts recently commented on the stock. Loop Capital boosted their price objective on shares of Mastercard from $132.00 to $144.00 and gave the stock a “positive” rating in a research note on Friday, July 28th. They noted that the move was a valuation call. BMO Capital Markets boosted their price objective on shares of Mastercard from $126.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and issued a $137.00 target price (up previously from $129.00) on shares of Mastercard in a research note on Sunday, July 30th. BidaskClub downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. upped their target price on shares of Mastercard and gave the stock an “outperform” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Mastercard currently has a consensus rating of “Buy” and a consensus target price of $128.20.
In other news, major shareholder Foundation Mastercard sold 29,206 shares of Mastercard stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 112,649,063 shares of the company’s stock, valued at approximately $14,377,399,910.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 704,433 shares of company stock valued at $90,655,568. Company insiders own 0.30% of the company’s stock.
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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