New York Life Investment Management LLC Raises Stake in Mastercard Incorporated (NYSE:MA)

New York Life Investment Management LLC lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,770 shares of the credit services provider’s stock after acquiring an additional 688 shares during the period. Mastercard accounts for approximately 0.6% of New York Life Investment Management LLC’s portfolio, making the stock its 29th biggest position. New York Life Investment Management LLC’s holdings in Mastercard were worth $55,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. VitalStone Financial LLC increased 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 acquiring an additional 45 shares during the last quarter. Westend Capital Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard in the 1st quarter valued at about $27,000. Scarborough Advisors LLC acquired a new position in Mastercard in the fourth quarter valued at about $28,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in shares of Mastercard during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the sale, the insider now owns 91,649,308 shares in the company, valued at $42,965,195,590.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now directly owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The disclosure for this sale can be found here. Insiders have sold 1,167,931 shares of company stock worth $531,284,982 in the last quarter. 0.10% of the stock is owned by insiders.

Mastercard Price Performance

Shares of NYSE:MA opened at $476.28 on Friday. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $490.00. The firm has a market capitalization of $442.76 billion, a P/E ratio of 37.86, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The company’s fifty day moving average price is $456.26 and its 200 day moving average price is $459.59.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, July 9th. Mastercard’s payout ratio is currently 20.99%.

Analysts Set New Price Targets

MA has been the topic of several recent analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a report on Wednesday, August 14th. Susquehanna lifted their price objective on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Piper Sandler increased their target price on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Compass Point began coverage on Mastercard in a research report on Wednesday. They issued a “neutral” rating and a $525.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective 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. Five investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $510.88.

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.