Ipswich Investment Management Co. Inc. cut its holdings in Mastercard Inc (NYSE:MA) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,624 shares of the credit services provider’s stock after selling 225 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Mastercard were worth $776,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in MA. Victory Capital Management Inc. boosted its position in Mastercard by 11.5% during the 4th quarter. Victory Capital Management Inc. now owns 497,297 shares of the credit services provider’s stock worth $148,488,000 after acquiring an additional 51,210 shares during the last quarter. Pearl River Capital LLC boosted its position in Mastercard by 175.5% during the 4th quarter. Pearl River Capital LLC now owns 1,102 shares of the credit services provider’s stock worth $329,000 after acquiring an additional 702 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Mastercard by 1,039.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,685 shares of the credit services provider’s stock worth $24,092,000 after acquiring an additional 73,607 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Mastercard during the 4th quarter worth approximately $3,165,000. Finally, Change Path LLC boosted its position in Mastercard by 41.4% during the 4th quarter. Change Path LLC now owns 1,404 shares of the credit services provider’s stock worth $419,000 after acquiring an additional 411 shares during the last quarter. 73.95% of the stock is owned by hedge funds and other institutional investors.
MA has been the subject of a number of recent research reports. Robert W. Baird upped their price target on Mastercard from $270.00 to $308.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Barclays cut their price objective on Mastercard from $370.00 to $335.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Morgan Stanley increased their price objective on Mastercard from $286.00 to $311.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Jefferies Financial Group downgraded Mastercard from a “buy” rating to a “hold” rating and cut their price objective for the company from $290.00 to $275.00 in a report on Wednesday, April 15th. Finally, Susquehanna Bancshares cut their price objective on Mastercard from $355.00 to $330.00 and set a “positive” rating for the company in a report on Thursday, April 30th. Five analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Mastercard currently has a consensus rating of “Buy” and an average price target of $326.43.
Shares of NYSE MA traded down $1.15 during mid-day trading on Thursday, reaching $299.00. The company had a trading volume of 53,851 shares, compared to its average volume of 3,859,523. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.87 and a current ratio of 1.87. Mastercard Inc has a one year low of $199.99 and a one year high of $347.25. The firm has a market cap of $300.65 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 3.63 and a beta of 1.08. The business’s 50-day simple moving average is $300.33 and its 200 day simple moving average is $291.30.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.10. Mastercard had a return on equity of 149.02% and a net margin of 46.75%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the business earned $1.78 earnings per share. Mastercard’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Mastercard Inc will post 6.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, July 8th. Mastercard’s payout ratio is currently 20.59%.
In related news, major shareholder Foundation Mastercard sold 68,670 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $299.68, for a total value of $20,579,025.60. Following the sale, the insider now directly owns 110,551,844 shares of the company’s stock, valued at $33,130,176,609.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julius Genachowski sold 2,009 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $281.79, for a total value of $566,116.11. Following the completion of the sale, the director now directly owns 7,346 shares in the company, valued at $2,070,029.34. The disclosure for this sale can be found here. Insiders sold 527,044 shares of company stock worth $158,686,565 in the last 90 days. 3.79% of the stock is owned by company insiders.
Mastercard Company Profile
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 related products and services.
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