California Public Employees Retirement System grew its position in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,863,446 shares of the credit services provider’s stock after buying an additional 176,845 shares during the period. California Public Employees Retirement System’s holdings in Mastercard were worth $732,893,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MA. Bornite Capital Management LP purchased a new position in shares of Mastercard during the 1st quarter valued at $21,442,000. United Bank boosted its stake in Mastercard by 34.5% in the 1st quarter. United Bank now owns 6,007 shares of the credit services provider’s stock worth $2,147,000 after purchasing an additional 1,541 shares during the period. Mackenzie Financial Corp boosted its stake in Mastercard by 30.1% in the 1st quarter. Mackenzie Financial Corp now owns 272,358 shares of the credit services provider’s stock worth $97,335,000 after purchasing an additional 63,040 shares during the period. First Western Trust Bank bought a new position in Mastercard in the 1st quarter worth about $1,168,000. Finally, Bridgewater Associates LP bought a new position in Mastercard in the 1st quarter worth about $12,926,000. Hedge funds and other institutional investors own 74.94% of the company’s stock.
Mastercard Stock Performance
Shares of NYSE MA opened at $394.38 on Friday. The stock has a market cap of $369.84 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.78 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.24. Mastercard Incorporated has a 1-year low of $336.02 and a 1-year high of $418.60. The stock’s 50-day moving average is $396.88 and its 200 day moving average is $390.77.
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The credit services provider reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.18. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.53 billion. Mastercard had a return on equity of 188.83% and a net margin of 44.85%. Mastercard’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. On average, sell-side analysts anticipate that Mastercard Incorporated will post 12.16 EPS for the current fiscal year.
Mastercard Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 9th were paid a $0.57 dividend. The ex-dividend date was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.58%. Mastercard’s dividend payout ratio (DPR) is currently 19.86%.
Insiders Place Their Bets
In other Mastercard news, major shareholder Foundation Mastercard sold 125,816 shares of Mastercard stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $397.89, for a total value of $50,060,928.24. Following the transaction, the insider now directly owns 98,927,485 shares of the company’s stock, valued at approximately $39,362,257,006.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 125,816 shares of Mastercard stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $397.89, for a total value of $50,060,928.24. Following the transaction, the insider now directly owns 98,927,485 shares of the company’s stock, valued at approximately $39,362,257,006.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hai Ling sold 3,324 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $415.00, for a total value of $1,379,460.00. Following the transaction, the insider now directly owns 17,577 shares in the company, valued at $7,294,455. The disclosure for this sale can be found here. Insiders have sold 659,240 shares of company stock valued at $256,112,223 in the last ninety days. Company insiders own 0.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on MA. KeyCorp cut their target price on Mastercard from $440.00 to $430.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. Bank of America raised their target price on Mastercard from $438.00 to $442.00 in a research note on Tuesday, July 18th. BMO Capital Markets cut their target price on Mastercard from $488.00 to $472.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. StockNews.com began coverage on Mastercard in a research report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Raymond James dropped their price target on Mastercard from $453.00 to $452.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and an average target price of $450.09.
Check Out Our Latest Analysis on MA
About Mastercard
(Free Report)
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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