Private Advisor Group LLC trimmed its position in shares of Mastercard Incorporated (NYSE:MA – Get Rating) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,458 shares of the credit services provider’s stock after selling 5,493 shares during the quarter. Private Advisor Group LLC’s holdings in Mastercard were worth $19,704,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. PrairieView Partners LLC lifted its position in Mastercard by 58.2% in the 1st quarter. PrairieView Partners LLC now owns 87 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Cordant Inc. bought a new stake in Mastercard in the 1st quarter valued at $32,000. Western Pacific Wealth Management LP bought a new stake in Mastercard in the 4th quarter valued at $39,000. Joseph P. Lucia & Associates LLC bought a new stake in Mastercard in the 1st quarter valued at $44,000. Finally, American National Bank bought a new stake in Mastercard in the 1st quarter valued at $46,000. 75.10% of the stock is owned by institutional investors.
Insider Buying and Selling at Mastercard
In other news, CFO J. Mehra Sachin sold 5,000 shares of the company’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 transaction of $1,800,000.00. Following the completion of the sale, the chief financial officer now owns 15,723 shares of the company’s stock, valued at approximately $5,660,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.
Mastercard Stock Down 2.8 %
Mastercard (NYSE:MA – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The credit services provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the business earned $1.95 EPS. Mastercard’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts forecast that Mastercard Incorporated will post 10.63 earnings per share for the current year.
Mastercard Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 9th. Shareholders of record on Friday, October 7th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, October 6th. Mastercard’s dividend payout ratio is currently 19.86%.
Analysts Set New Price Targets
Several equities research analysts recently commented on MA shares. Macquarie cut their price objective on shares of Mastercard from $440.00 to $410.00 in a research report on Friday, July 29th. BMO Capital Markets lifted their price target on shares of Mastercard from $402.00 to $422.00 in a research note on Monday, August 1st. Truist Financial lowered their price target on shares of Mastercard from $450.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Wells Fargo & Company lowered their price target on shares of Mastercard from $450.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Finally, Mizuho lifted their price target on shares of Mastercard from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $414.09.
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.
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