Hemenway Trust Co LLC Sells 31 Shares of Mastercard Incorporated (NYSE:MA)

Hemenway Trust Co LLC lessened its position in Mastercard Incorporated (NYSE:MA) by 0.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 99,467 shares of the credit services provider’s stock after selling 31 shares during the period. Mastercard comprises about 4.1% of Hemenway Trust Co LLC’s holdings, making the stock its 6th biggest position. Hemenway Trust Co LLC’s holdings in Mastercard were worth $47,901,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Mastercard during the 4th quarter worth about $26,000. VitalStone Financial LLC raised its stake in Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 45 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of Mastercard in the 4th quarter valued at $27,000. Westend Capital Management LLC purchased a new stake in shares of Mastercard during the 1st quarter valued at $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth $27,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MA. Bank of America downgraded Mastercard from a “buy” rating to a “neutral” rating and lowered their price target for the company from $505.00 to $480.00 in a research report on Wednesday. Susquehanna reissued a “positive” rating and set a $535.00 target price on shares of Mastercard in a research report on Wednesday, April 3rd. Robert W. Baird lifted their price target on shares of Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Evercore ISI cut their target price on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Piper Sandler began coverage on Mastercard in a research report on Monday, May 13th. They issued an “overweight” rating and a $531.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $498.57.

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 138,000 shares of Mastercard stock in a transaction that occurred on 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 sale, 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 that occurred 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 completion of the sale, the insider now directly owns 4,063 shares in the company, valued at $1,817,095.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 138,000 shares of the company’s 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 transaction, the insider now owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,163,228 shares of company stock worth $1,428,540,870. Insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE MA traded up $2.74 during midday trading on Thursday, hitting $436.38. The company’s stock had a trading volume of 4,032,569 shares, compared to its average volume of 2,484,578. 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 1-year low of $359.77 and a 1-year high of $490.00. The firm’s fifty day moving average price is $449.32 and its 200-day moving average price is $454.20. The firm has a market cap of $405.67 billion, a P/E ratio of 34.69, a P/E/G ratio of 1.74 and a beta of 1.09.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.09. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. Mastercard’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.80 earnings per share. On average, sell-side analysts forecast that Mastercard Incorporated will post 14.26 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. This represents a $2.64 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s payout ratio is 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.