Connable Office Inc. Has $6.49 Million Position in Mastercard Incorporated (NYSE:MA)

Connable Office Inc. trimmed its position in Mastercard Incorporated (NYSE:MA) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,149 shares of the credit services provider’s stock after selling 98 shares during the period. Mastercard makes up 0.7% of Connable Office Inc.’s portfolio, making the stock its 24th biggest holding. Connable Office Inc.’s holdings in Mastercard were worth $6,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MA. Vanguard Group Inc. raised its position in shares of Mastercard by 0.4% in the first quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock valued at $36,399,279,000 after buying an additional 330,872 shares in the last quarter. Capital Research Global Investors raised its holdings in Mastercard by 0.3% in the 1st quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock valued at $6,574,347,000 after acquiring an additional 43,881 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Mastercard by 120,665.3% during the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Mastercard by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock worth $2,241,297,000 after purchasing an additional 71,569 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Mastercard by 2.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock worth $1,908,973,000 after purchasing an additional 113,238 shares during the period. Institutional investors own 97.28% of the company’s stock.

Insider Activity

In other news, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the completion of the transaction, the insider now directly owns 91,924,308 shares in the company, valued at $42,970,017,774.60. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,370 shares of company stock worth $97,749,218 in the last three months. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Oppenheimer began coverage on shares of Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price objective for the company. Macquarie increased their price target on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $572.00 target price on shares of Mastercard in a research note on Thursday. Finally, Susquehanna lifted their price target on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and a consensus target price of $547.80.

Mastercard Trading Down 0.3 %

Shares of MA stock opened at $520.40 on Friday. The company has a market cap of $477.64 billion, a P/E ratio of 39.36, a PEG ratio of 2.28 and a beta of 1.10. Mastercard Incorporated has a fifty-two week low of $394.76 and a fifty-two week high of $534.03. The stock has a 50 day simple moving average of $502.32 and a two-hundred day simple moving average of $470.24. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.39 EPS. Research analysts forecast that Mastercard Incorporated will post 14.45 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s dividend payout ratio (DPR) is presently 19.97%.

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.