Coastal Investment Advisors Inc. trimmed its position in Mastercard Incorporated (NYSE:MA – Free Report) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,062 shares of the credit services provider’s stock after selling 53 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Mastercard were worth $2,384,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Bornite Capital Management LP purchased a new stake in shares of Mastercard during the 1st quarter worth $21,442,000. United Bank lifted its stake in shares of Mastercard by 34.5% during 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 last quarter. Mackenzie Financial Corp lifted its stake in shares of Mastercard by 30.1% during 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 last quarter. First Western Trust Bank purchased a new stake in shares of Mastercard during the 1st quarter worth $1,168,000. Finally, Bridgewater Associates LP purchased a new stake in shares of Mastercard during the 1st quarter worth $12,926,000. 74.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Credit Suisse Group upped their target price on Mastercard from $400.00 to $430.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Mizuho reduced their target price on Mastercard from $435.00 to $420.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Wells Fargo & Company upped their target price on Mastercard from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. KeyCorp reduced their target price on Mastercard from $440.00 to $430.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. Finally, Truist Financial upped their target price on Mastercard from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Monday, September 25th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $450.09.
Read Our Latest Research Report on Mastercard
Insiders Place Their Bets
In other Mastercard news, major shareholder Foundation Mastercard sold 125,816 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $397.89, for a total transaction of $50,060,928.24. Following the transaction, the insider now owns 98,927,485 shares in the company, valued at $39,362,257,006.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard K. Davis bought 1,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $390.96 per share, for a total transaction of $390,960.00. Following the completion of the transaction, the director now directly owns 9,743 shares in the company, valued at approximately $3,809,123.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 125,816 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $397.89, for a total value of $50,060,928.24. Following the completion of the transaction, the insider now owns 98,927,485 shares in the company, valued at approximately $39,362,257,006.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 659,240 shares of company stock worth $256,112,223. 0.13% of the stock is owned by corporate insiders.
Mastercard Stock Up 1.7 %
Mastercard stock opened at $394.38 on Friday. The firm has a market cap of $369.84 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. Mastercard Incorporated has a 52 week low of $336.02 and a 52 week high of $418.60. The business’s 50-day moving average price is $396.88 and its 200 day moving average price is $390.77. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.24.
Mastercard (NYSE:MA – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The credit services provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.18. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.68 earnings per share. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 12.16 earnings per share for the current year.
Mastercard Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 9th were given a dividend of $0.57 per share. The ex-dividend date of this dividend 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 is currently 19.86%.
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.
Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA – Free Report).
Receive News & Ratings for Mastercard Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Mastercard and related companies with MarketBeat.com’s FREE daily email newsletter.