Channing Global Advisors LLC Sells 1,057 Shares of Mastercard Incorporated $MA

Channing Global Advisors LLC trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,943 shares of the credit services provider’s stock after selling 1,057 shares during the quarter. Mastercard accounts for 3.2% of Channing Global Advisors LLC’s portfolio, making the stock its 12th largest holding. Channing Global Advisors LLC’s holdings in Mastercard were worth $5,025,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Mastercard during the second quarter worth $25,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Mastercard in the 2nd quarter worth about $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Keystone Global Partners LLC bought a new position in Mastercard during the 1st quarter valued at about $31,000. Finally, IMG Wealth Management Inc. acquired a new position in Mastercard in the second quarter valued at about $31,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Up 1.2%

MA stock opened at $551.25 on Friday. The company has a market cap of $495.02 billion, a P/E ratio of 37.17, a PEG ratio of 2.27 and a beta of 0.92. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The business has a fifty day moving average of $559.06 and a 200-day moving average of $568.23.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.During the same period last year, the company earned $3.89 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Thursday, October 9th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, October 9th. Mastercard’s dividend payout ratio is currently 19.44%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MA shares. Royal Bank Of Canada raised their price objective on shares of Mastercard from $645.00 to $654.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company reduced their price objective on Mastercard from $669.00 to $660.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Morgan Stanley set a $665.00 target price on Mastercard and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus price target of $652.50.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% 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.