Sawgrass Asset Management LLC Makes New Investment in Mastercard Incorporated (NYSE:MA)

Sawgrass Asset Management LLC acquired a new position in shares of Mastercard Incorporated (NYSE:MAGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 23,752 shares of the credit services provider’s stock, valued at approximately $8,488,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MA. PrairieView Partners LLC grew its position in Mastercard by 58.2% during the 1st quarter. PrairieView Partners LLC now owns 87 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Cordant Inc. acquired a new stake in shares of Mastercard during the 1st quarter valued at $32,000. Western Pacific Wealth Management LP acquired a new stake in shares of Mastercard during the 4th quarter valued at $39,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Mastercard during the 1st quarter valued at $44,000. Finally, American National Bank acquired a new stake in shares of Mastercard during the 1st quarter valued at $46,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MA. The Goldman Sachs Group began coverage on shares of Mastercard in a research note on Tuesday, May 17th. They set a “buy” rating and a $460.00 target price for the company. Citigroup decreased their target price on shares of Mastercard from $453.00 to $415.00 in a research note on Tuesday, July 26th. Robert W. Baird reduced their price objective on shares of Mastercard from $470.00 to $416.00 in a research note on Wednesday, July 20th. JPMorgan Chase & Co. reduced their price objective on shares of Mastercard from $430.00 to $425.00 in a research note on Wednesday, July 20th. Finally, Macquarie reduced their price objective on shares of Mastercard from $440.00 to $410.00 in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $414.09.

Insider Buying and Selling at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 15,723 shares in the company, valued at $5,660,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Mastercard Price Performance

Shares of MA opened at $325.44 on Wednesday. The stock has a market capitalization of $314.50 billion, a P/E ratio of 32.97, a P/E/G ratio of 1.56 and a beta of 1.06. Mastercard Incorporated has a twelve month low of $303.65 and a twelve month high of $399.92. The company has a 50 day moving average of $339.63 and a 200-day moving average of $341.74. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.20.

Mastercard (NYSE:MAGet Rating) last released its earnings results on Thursday, July 28th. The credit services provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Mastercard had a net margin of 46.49% and a return on equity of 143.35%. The business had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the business earned $1.95 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that Mastercard Incorporated will post 10.65 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Friday, July 8th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, July 7th. Mastercard’s payout ratio is 19.86%.

Mastercard Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MAGet Rating).

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.