Independence Bank of Kentucky Boosts Stock Position in Mastercard Incorporated (NYSE:MA)

Independence Bank of Kentucky grew its stake in Mastercard Incorporated (NYSE:MA) by 19.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,514 shares of the credit services provider’s stock after purchasing an additional 402 shares during the period. Independence Bank of Kentucky’s holdings in Mastercard were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in Mastercard in the fourth quarter worth approximately $26,000. VitalStone Financial LLC grew its position in Mastercard by 300.0% in the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 45 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in Mastercard in the fourth quarter worth approximately $27,000. Westend Capital Management LLC purchased a new position in Mastercard in the first quarter worth approximately $27,000. Finally, Scarborough Advisors LLC purchased a new position in Mastercard in the fourth quarter worth approximately $28,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Performance

Shares of MA stock traded down $1.59 during mid-day trading on Friday, hitting $441.16. 4,105,179 shares of the stock were exchanged, compared to its average volume of 2,467,253. The stock’s fifty day simple moving average is $451.50 and its two-hundred day simple moving average is $452.88. The stock has a market capitalization of $410.11 billion, a price-to-earnings ratio of 35.06, a P/E/G ratio of 1.73 and a beta of 1.09. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.09 and a current ratio of 1.09.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.09. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 earnings per share. On average, analysts forecast that Mastercard Incorporated will post 14.26 EPS for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Tuesday, July 9th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Analyst Ratings Changes

MA has been the topic of a number of research reports. Piper Sandler initiated coverage on Mastercard in a research note on Monday, May 13th. They set an “overweight” rating and a $531.00 price target on the stock. Barclays decreased their price target on Mastercard from $549.00 to $530.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Evercore ISI decreased their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday. Robert W. Baird upped their price target on Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Mizuho decreased their price target on Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $496.91.

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 138,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Sandra A. Arkell sold 300 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $454.00, for a total value of $136,200.00. Following the completion of the sale, the insider now owns 3,463 shares in the company, valued at $1,572,202. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 138,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the completion of the sale, the insider now owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. Insiders have sold a total of 3,163,228 shares of company stock valued at $1,428,540,870 over the last quarter. 0.10% of the stock is currently owned by insiders.

About Mastercard

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.