Amalgamated Bank Reduces Holdings in Mastercard Incorporated (NYSE:MA)

Amalgamated Bank reduced its position in Mastercard Incorporated (NYSE:MA) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,719 shares of the credit services provider’s stock after selling 1,970 shares during the period. Mastercard makes up about 0.7% of Amalgamated Bank’s holdings, making the stock its 18th biggest holding. Amalgamated Bank’s holdings in Mastercard were worth $77,961,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gilbert & Cook Inc. increased its holdings in Mastercard by 8.3% during the 4th quarter. Gilbert & Cook Inc. now owns 3,134 shares of the credit services provider’s stock worth $1,337,000 after purchasing an additional 241 shares during the last quarter. Aveo Capital Partners LLC increased its stake in shares of Mastercard by 8.8% in the fourth quarter. Aveo Capital Partners LLC now owns 1,427 shares of the credit services provider’s stock worth $609,000 after buying an additional 116 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in Mastercard by 7.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,431 shares of the credit services provider’s stock valued at $3,565,000 after acquiring an additional 571 shares in the last quarter. Sachetta LLC bought a new position in Mastercard during the 4th quarter valued at $84,000. Finally, Quest Partners LLC acquired a new position in Mastercard during the 4th quarter worth $694,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of MA opened at $501.22 on Wednesday. The firm has a market capitalization of $465.94 billion, a PE ratio of 39.84, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The firm has a 50-day moving average price of $462.83 and a 200 day moving average price of $460.52. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $501.74.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. On average, sell-side analysts anticipate that Mastercard Incorporated will post 14.29 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 20.99%.

Insider Activity

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Craig Vosburg sold 9,028 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the completion of the sale, the insider now owns 58,940 shares in the company, valued at approximately $26,585,476.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The disclosure for this sale can be found here. Insiders sold a total of 725,152 shares of company stock worth $334,186,128 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Susquehanna increased their target price on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. TD Cowen boosted their price target on Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Argus upgraded Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $512.08.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.