Martingale Asset Management L P Trims Stake in Mastercard Incorporated (NYSE:MA)

Martingale Asset Management L P lowered its position in Mastercard Incorporated (NYSE:MA) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,099 shares of the credit services provider’s stock after selling 9,342 shares during the quarter. Mastercard comprises about 0.9% of Martingale Asset Management L P’s portfolio, making the stock its 21st largest position. Martingale Asset Management L P’s holdings in Mastercard were worth $39,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in shares of Mastercard in the third quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Mastercard in the second quarter worth about $34,000. First Personal Financial Services bought a new position in shares of Mastercard in the third quarter worth about $39,000. Fairway Wealth LLC bought a new position in shares of Mastercard in the second quarter worth about $35,000. Finally, Lowe Wealth Advisors LLC grew its holdings in shares of Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. KeyCorp upped their price target on shares of Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho increased their target price on shares of Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Macquarie increased their target price on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Compass Point initiated coverage on shares of Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price on the stock. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Mastercard Stock Performance

MA opened at $532.38 on Friday. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $534.03. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $488.63 billion, a PE ratio of 40.27, a P/E/G ratio of 2.37 and a beta of 1.10. The firm has a 50 day moving average of $509.57 and a two-hundred day moving average of $475.63.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $3.39 EPS. On average, analysts anticipate that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.66 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.50%. Mastercard’s payout ratio is 19.97%.

Mastercard 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.