Castle Rock Wealth Management LLC lessened its stake in shares of Mastercard Inc (NYSE:MA) by 20.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,396 shares of the credit services provider’s stock after selling 367 shares during the period. Castle Rock Wealth Management LLC’s holdings in Mastercard were worth $301,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of MA. Nordea Investment Management AB grew its stake in shares of Mastercard by 5.1% in the fourth quarter. Nordea Investment Management AB now owns 1,568,374 shares of the credit services provider’s stock worth $295,873,000 after purchasing an additional 76,496 shares during the last quarter. Peachtree Investment Partners LLC acquired a new position in Mastercard in the fourth quarter valued at $7,616,000. Executive Wealth Management LLC acquired a new position in Mastercard in the fourth quarter valued at $1,564,000. Psagot Investment House Ltd. lifted its holdings in Mastercard by 14.1% in the fourth quarter. Psagot Investment House Ltd. now owns 55,110 shares of the credit services provider’s stock valued at $10,397,000 after buying an additional 6,800 shares during the period. Finally, B. Riley Wealth Management Inc. lifted its holdings in Mastercard by 19.5% in the fourth quarter. B. Riley Wealth Management Inc. now owns 1,115 shares of the credit services provider’s stock valued at $210,000 after buying an additional 182 shares during the period. 75.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MA opened at $239.15 on Tuesday. Mastercard Inc has a 1-year low of $170.65 and a 1-year high of $240.93. The stock has a market cap of $245.02 billion, a PE ratio of 36.85, a P/E/G ratio of 1.88 and a beta of 1.14. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.08.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is currently 20.34%.
In related news, General Counsel Timothy H. Murphy sold 60,428 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $230.31, for a total value of $13,917,172.68. Following the sale, the general counsel now owns 46,331 shares in the company, valued at approximately $10,670,492.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Miebach sold 2,711 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $240.28, for a total transaction of $651,399.08. Following the completion of the sale, the insider now owns 20,492 shares in the company, valued at approximately $4,923,817.76. The disclosure for this sale can be found here. Insiders have sold 99,716 shares of company stock worth $22,428,540 in the last quarter. Company insiders own 0.32% of the company’s stock.
Several equities analysts recently issued reports on the stock. Wells Fargo & Co boosted their target price on shares of Mastercard from $238.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Deutsche Bank boosted their target price on shares of Mastercard from $221.00 to $267.00 and gave the company a “buy” rating in a report on Monday, April 1st. Wedbush boosted their target price on shares of Mastercard from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Nomura boosted their target price on shares of Mastercard to $252.00 and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, Oppenheimer boosted their target price on shares of Mastercard from $221.00 to $242.00 and gave the company an “outperform” rating in a report on Monday, February 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Mastercard presently has an average rating of “Buy” and an average price target of $232.74.
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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 related products and services.
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