Cim Investment Management Inc. trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 2.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,747 shares of the credit services provider’s stock after selling 148 shares during the quarter. Mastercard makes up 0.6% of Cim Investment Management Inc.’s holdings, making the stock its 19th biggest holding. Cim Investment Management Inc.’s holdings in Mastercard were worth $2,098,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Ayalon Holdings Ltd. increased its position in Mastercard by 14.3% during the second quarter. Ayalon Holdings Ltd. now owns 5,860 shares of the credit services provider’s stock worth $2,172,000 after purchasing an additional 733 shares during the last quarter. Diametric Capital LP increased its position in Mastercard by 87.0% during the first quarter. Diametric Capital LP now owns 7,473 shares of the credit services provider’s stock worth $2,661,000 after purchasing an additional 3,476 shares during the last quarter. Ninety One North America Inc. increased its position in Mastercard by 5.7% during the second quarter. Ninety One North America Inc. now owns 56,839 shares of the credit services provider’s stock worth $20,751,000 after purchasing an additional 3,066 shares during the last quarter. Samlyn Capital LLC acquired a new stake in Mastercard during the first quarter worth about $67,039,000. Finally, Tranquility Partners LLC boosted its stake in Mastercard by 5.3% during the second quarter. Tranquility Partners LLC now owns 5,591 shares of the credit services provider’s stock worth $2,041,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
Shares of NYSE:MA traded down $0.02 during trading on Thursday, reaching $342.33. 111,332 shares of the stock were exchanged, compared to its average volume of 3,793,009. The firm has a market cap of $337.80 billion, a price-to-earnings ratio of 47.86, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. Mastercard Incorporated has a 12-month low of $281.20 and a 12-month high of $401.50. The firm’s 50-day moving average price is $352.78 and its 200 day moving average price is $366.10. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.33 and a current ratio of 1.33.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 9th. Shareholders of record on Friday, October 8th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Thursday, October 7th. Mastercard’s dividend payout ratio is presently 27.37%.
MA has been the subject of several research analyst reports. BMO Capital Markets increased their target price on shares of Mastercard from $427.00 to $429.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Barclays raised their price objective on shares of Mastercard from $452.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, August 2nd. Mizuho raised their price objective on shares of Mastercard from $435.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. Raymond James raised their price objective on shares of Mastercard from $428.00 to $453.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Finally, Daiwa Capital Markets lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $385.00 price objective for the company. in a research note on Thursday, August 12th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $418.48.
In other news, major shareholder Foundation Mastercard sold 78,985 shares of the stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $358.90, for a total transaction of $28,347,716.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J. Mehra Sachin sold 7,838 shares of the stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $385.42, for a total value of $3,020,921.96. Following the transaction, the chief financial officer now owns 20,320 shares of the company’s stock, valued at $7,831,734.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 797,580 shares of company stock valued at $299,602,012. 0.33% of the stock is owned by company insiders.
Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.
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