Raub Brock Capital Management LP cut its stake in shares of MasterCard Inc. (NYSE:MA) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 135,569 shares of the company’s stock after selling 7,965 shares during the period. MasterCard makes up 3.6% of Raub Brock Capital Management LP’s holdings, making the stock its 18th largest position. Raub Brock Capital Management LP’s holdings in MasterCard were worth $11,938,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of MasterCard during the first quarter valued at $106,000. Seven Bridges Advisors LLC purchased a new stake in shares of MasterCard during the second quarter valued at $109,000. First New York Securities LLC NY boosted its stake in shares of MasterCard by 2,450.0% in the second quarter. First New York Securities LLC NY now owns 1,530 shares of the company’s stock valued at $135,000 after buying an additional 1,470 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of MasterCard during the second quarter valued at $155,000. Finally, Hartford Financial Management Inc. boosted its stake in shares of MasterCard by 76.0% in the second quarter. Hartford Financial Management Inc. now owns 2,200 shares of the company’s stock valued at $193,000 after buying an additional 950 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.
MasterCard Inc. (NYSE:MA) traded up 1.36% during mid-day trading on Wednesday, reaching $102.40. The company’s stock had a trading volume of 3,768,727 shares. The firm has a 50-day moving average of $98.83 and a 200 day moving average of $95.58. MasterCard Inc. has a 1-year low of $78.52 and a 1-year high of $102.67. The firm has a market capitalization of $112.41 billion, a price-to-earnings ratio of 30.04 and a beta of 1.19.
MasterCard (NYSE:MA) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.06. MasterCard had a return on equity of 66.32% and a net margin of 37.39%. The company earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts expect that MasterCard Inc. will post $3.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 9th. Stockholders of record on Monday, October 10th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.76 annualized dividend and a dividend yield of 0.74%. MasterCard’s payout ratio is 22.35%.
MA has been the topic of several analyst reports. Vetr raised shares of MasterCard from a “hold” rating to a “buy” rating and set a $98.52 target price on the stock in a report on Monday, June 13th. Citigroup Inc. raised their price objective on shares of MasterCard from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $118.00 price objective on shares of MasterCard in a report on Monday, July 18th. BMO Capital Markets reissued a “buy” rating on shares of MasterCard in a report on Monday, July 11th. Finally, Jefferies Group reissued a “buy” rating on shares of MasterCard in a report on Tuesday, July 5th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $109.71.
In other news, major shareholder Foundation Mastercard sold 56,016 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $96.53, for a total value of $5,407,224.48. Following the completion of the transaction, the insider now owns 114,644,971 shares of the company’s stock, valued at $11,066,679,050.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Martina Hundmejean sold 94,345 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $96.82, for a total value of $9,134,482.90. Following the completion of the transaction, the chief financial officer now directly owns 214,968 shares of the company’s stock, valued at approximately $20,813,201.76. The disclosure for this sale can be found here. 3.14% of the stock is owned by insiders.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world. The Company operates through payment solutions segment. The Company allows user to make payments by a range of payment solutions and services using various brands, which include MasterCard, Maestro and Cirrus.
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