Industrial Alliance Investment Management Inc. Grows Holdings in Mastercard Incorporated (NYSE:MA)

Industrial Alliance Investment Management Inc. increased its position in Mastercard Incorporated (NYSE:MA) by 2.8% in the 1st quarter, HoldingsChannel reports. The fund owned 2,179 shares of the credit services provider’s stock after buying an additional 59 shares during the quarter. Mastercard makes up about 0.4% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its 28th largest holding. Industrial Alliance Investment Management Inc.’s holdings in Mastercard were worth $1,049,000 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 the company. Jacobs Levy Equity Management Inc. increased its holdings in Mastercard by 2.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 878,547 shares of the credit services provider’s stock worth $423,082,000 after acquiring an additional 20,118 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $5,512,000. Kingdon Capital Management L.L.C. increased its holdings in Mastercard by 42.9% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 25,000 shares of the credit services provider’s stock worth $12,039,000 after acquiring an additional 7,500 shares in the last quarter. L1 Capital International Pty Ltd grew its holdings in Mastercard by 2.7% during the 1st quarter. L1 Capital International Pty Ltd now owns 29,492 shares of the credit services provider’s stock valued at $14,109,000 after buying an additional 785 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Mastercard by 1.8% during the 1st quarter. Bridgeway Capital Management LLC now owns 55,793 shares of the credit services provider’s stock valued at $26,868,000 after buying an additional 995 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mastercard

In other news, major shareholder Foundation Mastercard sold 122,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $460.20, for a total transaction of $56,144,400.00. Following the sale, the insider now owns 94,971,308 shares in the company, valued at $43,705,795,941.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Sandra A. Arkell sold 300 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $447.23, for a total transaction of $134,169.00. Following the sale, the insider now owns 4,063 shares in the company, valued at $1,817,095.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 122,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $460.20, for a total value of $56,144,400.00. Following the sale, the insider now owns 94,971,308 shares in the company, valued at approximately $43,705,795,941.60. The disclosure for this sale can be found here. Insiders have sold 2,720,228 shares of company stock worth $1,224,758,080 over the last quarter. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MA. TD Cowen began coverage on shares of Mastercard in a report on Thursday, April 11th. They set a “buy” rating and a $545.00 price objective for the company. Morgan Stanley cut their price objective on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Robert W. Baird increased their price objective on shares of Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Piper Sandler began coverage on shares of Mastercard in a report on Monday, May 13th. They set an “overweight” rating and a $531.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Mastercard from $510.00 to $500.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $501.23.

Mastercard Stock Up 1.4 %

MA traded up $6.15 on Tuesday, hitting $447.45. The company had a trading volume of 2,261,106 shares, compared to its average volume of 2,488,075. The stock has a fifty day moving average price of $446.14 and a 200-day moving average price of $456.18. 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. The stock has a market capitalization of $415.95 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 1.73 and a beta of 1.09.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts predict that Mastercard Incorporated will post 14.25 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.64 annualized dividend and a yield of 0.59%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

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.