Bar Harbor Wealth Management Cuts Position in Mastercard Incorporated (NYSE:MA)

Bar Harbor Wealth Management trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,347 shares of the credit services provider’s stock after selling 533 shares during the period. Bar Harbor Wealth Management’s holdings in Mastercard were worth $8,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Westend Capital Management LLC purchased a new position in shares of Mastercard in the 1st quarter worth about $27,000. Palisade Asset Management LLC purchased a new position in Mastercard in the first quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Mastercard in the second quarter worth approximately $34,000. Fairway Wealth LLC purchased a new position in Mastercard in the 2nd quarter worth approximately $35,000. Finally, Lowe Wealth Advisors LLC lifted its position in Mastercard by 74.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity

In related news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were 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 owns 27,304 shares of the company’s stock, valued at $12,423,320. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was 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 approximately $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MA. Argus upgraded Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. KeyCorp boosted their price objective on shares of Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI decreased their target price on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Robert W. Baird raised their price target on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $524.64.

Mastercard Stock Performance

Shares of NYSE:MA opened at $513.91 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $517.04. The company has a market capitalization of $477.74 billion, a price-to-earnings ratio of 40.85, a PEG ratio of 2.22 and a beta of 1.10. The firm’s 50-day moving average is $485.71 and its 200 day moving average is $463.95.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Research analysts predict that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. Mastercard’s dividend payout ratio (DPR) is 20.99%.

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.