Newfound Research LLC Reduces Stock Position in Mastercard Incorporated (NYSE:MA)

Newfound Research LLC lessened its holdings in Mastercard Incorporated (NYSE:MAGet Rating) by 33.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 291 shares of the credit services provider’s stock after selling 147 shares during the quarter. Newfound Research LLC’s holdings in Mastercard were worth $92,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its holdings in shares of Mastercard by 0.9% during the first quarter. Whittier Trust Co. now owns 32,108 shares of the credit services provider’s stock worth $11,475,000 after purchasing an additional 286 shares during the last quarter. Allen Investment Management LLC grew its holdings in shares of Mastercard by 186.1% during the first quarter. Allen Investment Management LLC now owns 295,561 shares of the credit services provider’s stock worth $105,628,000 after purchasing an additional 192,250 shares during the last quarter. MCIA Inc grew its holdings in shares of Mastercard by 18.6% during the first quarter. MCIA Inc now owns 8,379 shares of the credit services provider’s stock worth $2,911,000 after purchasing an additional 1,313 shares during the last quarter. Private Portfolio Partners LLC grew its holdings in shares of Mastercard by 1.8% during the first quarter. Private Portfolio Partners LLC now owns 1,845 shares of the credit services provider’s stock worth $659,000 after purchasing an additional 33 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Mastercard by 23.3% during the first quarter. Primecap Management Co. CA now owns 380,000 shares of the credit services provider’s stock worth $135,804,000 after purchasing an additional 71,900 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MA shares. Wells Fargo & Company decreased their target price on shares of Mastercard from $450.00 to $400.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Wolfe Research decreased their target price on shares of Mastercard from $465.00 to $415.00 in a research note on Wednesday, July 20th. JPMorgan Chase & Co. decreased their target price on shares of Mastercard from $430.00 to $425.00 in a research note on Wednesday, July 20th. Robert W. Baird decreased their target price on shares of Mastercard from $470.00 to $416.00 in a research note on Wednesday, July 20th. Finally, Mizuho increased their target price on shares of Mastercard from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $414.09.

Mastercard Price Performance

Mastercard stock traded down $7.33 during mid-day trading on Friday, reaching $291.03. The company had a trading volume of 127,925 shares, compared to its average volume of 2,266,435. Mastercard Incorporated has a 1 year low of $296.59 and a 1 year high of $399.92. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $281.25 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.41 and a beta of 1.06. The stock’s 50-day simple moving average is $338.13 and its 200-day simple moving average is $340.44.

Mastercard (NYSE:MAGet Rating) last issued its earnings results on Thursday, July 28th. The credit services provider reported $2.56 earnings per share (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 company had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the company posted $1.95 earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts predict that Mastercard Incorporated will post 10.63 EPS for the current year.

Mastercard Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 0.67%. Mastercard’s dividend payout ratio (DPR) is presently 19.86%.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 5,000 shares of the firm’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 transaction, the chief financial officer now directly owns 15,723 shares of the company’s stock, valued at approximately $5,660,280. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Mastercard Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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