Mastercard Incorporated (NYSE:MA) Shares Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp increased its holdings in Mastercard Incorporated (NYSE:MA) by 7.6% in the 1st quarter, HoldingsChannel reports. The fund owned 13,048 shares of the credit services provider’s stock after purchasing an additional 924 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Mastercard were worth $6,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MA. Norges Bank purchased a new position in shares of Mastercard during the 4th quarter worth $4,595,559,000. International Assets Investment Management LLC boosted its stake in Mastercard by 43,445.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,936,684 shares of the credit services provider’s stock worth $1,252,525,000 after buying an additional 2,929,940 shares during the period. Vanguard Group Inc. increased its position in shares of Mastercard by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after acquiring an additional 742,076 shares during the last quarter. Capital International Investors raised its stake in shares of Mastercard by 3.3% in the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after acquiring an additional 676,452 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of Mastercard by 4.7% in the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after acquiring an additional 605,909 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MA shares. TD Cowen began coverage on shares of Mastercard in a report on Thursday, April 11th. They issued a “buy” rating and a $545.00 target price for the company. Evercore ISI cut their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Susquehanna reaffirmed a “positive” rating and issued a $535.00 target price on shares of Mastercard in a research report on Wednesday, April 3rd. Finally, Robert W. Baird increased their price target on shares of Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.91.

Mastercard Stock Performance

Mastercard stock traded down $1.67 during trading hours on Friday, reaching $441.08. 4,105,039 shares of the stock were exchanged, compared to its average volume of 2,460,773. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $490.00. The stock has a market cap of $410.03 billion, a P/E ratio of 35.06, a P/E/G ratio of 1.77 and a beta of 1.09. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50 day moving average is $451.50 and its 200 day moving average is $452.88.

Mastercard (NYSE:MA) last posted its quarterly earnings results 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. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the prior year, the company posted $2.80 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts predict that Mastercard Incorporated will post 14.26 EPS for the current fiscal year.

Mastercard Announces Dividend

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

Insider Activity at Mastercard

In other news, insider Sandra A. Arkell sold 300 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $447.23, for a total transaction of $134,169.00. Following the transaction, the insider now directly owns 4,063 shares of the company’s stock, valued at approximately $1,817,095.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Foundation Mastercard sold 151,000 shares of Mastercard stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $452.55, for a total transaction of $68,335,050.00. Following the completion of the transaction, the insider now directly owns 95,930,308 shares of the company’s stock, valued at $43,413,260,885.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sandra A. Arkell sold 300 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $447.23, for a total value of $134,169.00. Following the sale, the insider now owns 4,063 shares in the company, valued at $1,817,095.49. The disclosure for this sale can be found here. Insiders have sold a total of 3,163,228 shares of company stock worth $1,428,540,870 over the last three months. 0.10% of the stock is currently owned by corporate insiders.

Mastercard 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.