Ignite Planners LLC Sells 570 Shares of Mastercard Incorporated (NYSE:MA)

Ignite Planners LLC trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 12.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,023 shares of the credit services provider’s stock after selling 570 shares during the quarter. Ignite Planners LLC’s holdings in Mastercard were worth $1,925,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Mastercard by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock worth $32,096,470,000 after purchasing an additional 742,076 shares during the last quarter. Capital International Investors raised its holdings in Mastercard by 3.3% during the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after purchasing an additional 676,452 shares during the last quarter. Capital Research Global Investors raised its holdings in Mastercard by 4.7% during 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 purchasing an additional 605,909 shares during the last quarter. Norges Bank bought a new stake in Mastercard during the 4th quarter worth about $4,595,559,000. Finally, Ameriprise Financial Inc. raised its holdings in Mastercard by 5.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,510,259 shares of the credit services provider’s stock worth $2,181,964,000 after purchasing an additional 306,663 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Insider Transactions at Mastercard

In other news, insider Sandra A. Arkell sold 300 shares of the company’s stock in a transaction that occurred on 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 approximately $1,817,095.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Sandra A. Arkell sold 300 shares of the company’s stock in a transaction that occurred on 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 approximately $1,817,095.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Raj Seshadri sold 5,216 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $446.71, for a total value of $2,330,039.36. Following the completion of the sale, the insider now owns 15,183 shares in the company, valued at approximately $6,782,397.93. The disclosure for this sale can be found here. Insiders have sold a total of 2,894,228 shares of company stock worth $1,305,811,390 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Mastercard Stock Up 0.5 %

NYSE MA traded up $2.11 during trading on Monday, hitting $456.96. The stock had a trading volume of 2,550,082 shares, compared to its average volume of 2,439,468. The company has a market capitalization of $424.79 billion, a PE ratio of 36.32, a P/E/G ratio of 1.77 and a beta of 1.09. The company’s 50-day moving average price is $452.25 and its two-hundred day moving average price is $452.47. 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 Incorporated has a 12 month low of $359.77 and a 12 month high of $490.00.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating the consensus estimate of $3.22 by $0.09. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $2.80 EPS. As a group, sell-side analysts forecast that Mastercard Incorporated will post 14.22 EPS for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Analysts Set New Price Targets

MA has been the subject of several recent research reports. Robert W. Baird boosted their price objective on Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. TD Cowen assumed coverage on Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI boosted their target price on Mastercard from $530.00 to $545.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, Morgan Stanley decreased their target price on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $497.78.

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.