Barrett Asset Management LLC cut its holdings in Mastercard Incorporated (NYSE:MA – Get Rating) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,684 shares of the credit services provider’s stock after selling 352 shares during the quarter. Barrett Asset Management LLC’s holdings in Mastercard were worth $1,316,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. PrairieView Partners LLC raised its stake in Mastercard by 58.2% during the first quarter. PrairieView Partners LLC now owns 87 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Cordant Inc. purchased a new position in Mastercard during the first quarter worth approximately $32,000. Western Pacific Wealth Management LP purchased a new position in Mastercard during the fourth quarter worth approximately $39,000. Joseph P. Lucia & Associates LLC purchased a new position in Mastercard during the first quarter worth approximately $44,000. Finally, American National Bank purchased a new position in Mastercard during the first quarter worth approximately $46,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO J. Mehra Sachin sold 5,000 shares of Mastercard stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $360.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,723 shares of the company’s stock, valued at approximately $5,660,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.
Mastercard Price Performance
Mastercard (NYSE:MA – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The credit services provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.26 billion. Mastercard had a net margin of 46.49% and a return on equity of 143.35%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the business earned $1.95 EPS. As a group, research analysts anticipate that Mastercard Incorporated will post 10.65 earnings per share for the current fiscal year.
Mastercard Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Friday, July 8th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, July 7th. Mastercard’s dividend payout ratio is currently 19.86%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on MA shares. Wolfe Research cut their price target on shares of Mastercard from $465.00 to $415.00 in a research note on Wednesday, July 20th. Mizuho increased their price target on shares of Mastercard from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Wells Fargo & Company cut their target price on shares of Mastercard from $450.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Piper Sandler cut their target price on shares of Mastercard from $357.00 to $298.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 6th. Finally, Susquehanna Bancshares cut their target price on shares of Mastercard from $430.00 to $400.00 and set a “positive” rating on the stock in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $414.09.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.
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