Mastercard Incorporated (NYSE:MA) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 87.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,080 shares of the credit services provider’s stock after selling 87,741 shares during the quarter. Meeder Asset Management Inc.’s holdings in Mastercard were worth $5,770,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MA. Norges Bank acquired a new position in Mastercard in the fourth quarter worth about $4,595,559,000. Swedbank AB bought a new position in Mastercard during the 1st quarter worth approximately $660,652,000. PineStone Asset Management Inc. grew its position in shares of Mastercard by 145.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after acquiring an additional 1,053,616 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Mastercard by 1.0% in the 4th 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. Finally, Capital International Investors raised its position in shares of Mastercard by 3.3% during 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 in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Up 0.8 %

Mastercard stock opened at $492.11 on Friday. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $492.88. The stock has a market capitalization of $454.63 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The firm has a 50 day simple moving average of $459.79 and a 200-day simple moving average of $460.28. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Insider Transactions at Mastercard

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 completion of the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction that occurred on 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 directly owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares in the company, valued at approximately $12,423,320. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 827,467 shares of company stock valued at $379,595,815. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MA shares. JPMorgan Chase & Co. boosted their target price on shares of Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Susquehanna boosted their price objective on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Bank of America lowered shares of Mastercard from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $505.00 to $480.00 in a research note on Wednesday, July 10th. KeyCorp lifted their target price on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, William Blair upgraded Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus price target of $510.88.

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.