First United Bank Trust lowered its holdings in shares of Mastercard Inc (NYSE:MA) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,425 shares of the credit services provider’s stock after selling 450 shares during the quarter. First United Bank Trust’s holdings in Mastercard were worth $1,473,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in MA. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Mastercard during the second quarter worth about $26,000. Ellevest Inc. grew its holdings in Mastercard by 52.8% during the 2nd quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock valued at $29,000 after buying an additional 38 shares in the last quarter. Delphi Private Advisors LLC purchased a new position in Mastercard during the 2nd quarter valued at approximately $31,000. Evolution Wealth Advisors LLC purchased a new position in Mastercard during the 2nd quarter valued at approximately $31,000. Finally, Princeton Global Asset Management LLC purchased a new position in Mastercard during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
In related news, major shareholder Foundation Mastercard sold 23,850 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $279.47, for a total transaction of $6,665,359.50. Following the completion of the sale, the insider now directly owns 112,102,262 shares of the company’s stock, valued at approximately $31,329,219,161.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lance Darrell Gordon Uggla purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $275.71 per share, with a total value of $413,565.00. Following the completion of the purchase, the director now directly owns 3,691 shares in the company, valued at approximately $1,017,645.61. The disclosure for this purchase can be found here. Insiders sold a total of 140,143 shares of company stock valued at $38,535,340 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.07. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. As a group, analysts expect that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, October 8th. Mastercard’s payout ratio is 20.34%.
MA has been the subject of several research analyst reports. Citigroup raised their price target on Mastercard from $288.00 to $317.00 and gave the company a “buy” rating in a report on Monday, September 9th. Deutsche Bank raised their price target on Mastercard from $267.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Nomura raised their price target on Mastercard from $282.00 to $324.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group raised their price target on Mastercard from $300.00 to $312.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Raymond James raised their price target on Mastercard from $300.00 to $308.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Mastercard presently has an average rating of “Buy” and a consensus target price of $299.09.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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