Smithbridge Asset Management Inc. DE Cuts Stock Position in Mastercard Incorporated (NYSE:MA)

Smithbridge Asset Management Inc. DE lowered its holdings in Mastercard Incorporated (NYSE:MA) by 14.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,690 shares of the credit services provider’s stock after selling 996 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Mastercard were worth $2,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in shares of Mastercard during the 4th quarter valued at $26,000. VitalStone Financial LLC lifted its holdings in Mastercard by 300.0% during the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Westend Capital Management LLC purchased a new stake in Mastercard during the 1st quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard during the 1st quarter worth about $27,000. Finally, Scarborough Advisors LLC purchased a new stake in Mastercard during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA traded up $0.17 during trading hours on Friday, hitting $468.88. The stock had a trading volume of 1,922,047 shares, compared to its average volume of 2,490,054. The firm has a market capitalization of $435.88 billion, a PE ratio of 37.27, a PEG ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.09. The stock has a fifty day moving average price of $448.57 and a 200 day moving average price of $458.17. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $490.00.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were given a $0.66 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.56%. Mastercard’s payout ratio is 20.99%.

Insider Activity

In other news, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 108,000 shares of Mastercard stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $457.21, for a total value of $49,378,680.00. Following the completion of the sale, the insider now directly owns 94,863,308 shares in the company, valued at $43,372,453,050.68. The disclosure for this sale can be found here. Insiders have sold 1,627,175 shares of company stock worth $730,399,436 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MA shares. Barclays increased their price objective on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Citigroup upped their target price on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America lowered Mastercard from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $505.00 to $480.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their target price on Mastercard from $510.00 to $500.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Finally, Evercore ISI decreased their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $508.91.

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.