Essex Savings Bank lifted its holdings in Mastercard Inc (NYSE:MA) by 4.3% in the second quarter, Holdings Channel reports. The fund owned 3,727 shares of the credit services provider’s stock after purchasing an additional 152 shares during the quarter. Essex Savings Bank’s holdings in Mastercard were worth $1,102,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Pacific Center for Financial Services lifted its holdings in shares of Mastercard by 582.4% in the 1st quarter. Pacific Center for Financial Services now owns 116 shares of the credit services provider’s stock valued at $28,000 after acquiring an additional 99 shares during the last quarter. 1776 Wealth LLC bought a new stake in Mastercard in the first quarter worth about $28,000. Sound Income Strategies LLC lifted its stake in Mastercard by 70.5% in the first quarter. Sound Income Strategies LLC now owns 133 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 55 shares during the last quarter. Evolution Wealth Advisors LLC lifted its stake in Mastercard by 530.4% in the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Finally, Lion Street Advisors LLC bought a new stake in Mastercard in the first quarter worth about $39,000. 73.87% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Stephens raised their price objective on shares of Mastercard from $286.00 to $304.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wedbush raised their price objective on shares of Mastercard from $300.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. UBS Group decreased their price objective on shares of Mastercard from $345.00 to $315.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Barclays raised their price objective on shares of Mastercard from $335.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Compass Point lifted their price target on shares of Mastercard from $330.00 to $370.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $331.97.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 30th. The credit services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.21. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.26 billion. Mastercard had a net margin of 45.12% and a return on equity of 129.52%. Mastercard’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 earnings per share. As a group, analysts predict that Mastercard Inc will post 6.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, July 8th. Mastercard’s payout ratio is presently 20.59%.
In other news, Director Steven J. Freiberg sold 4,230 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $303.98, for a total transaction of $1,285,835.40. Following the sale, the director now directly owns 5,376 shares of the company’s stock, valued at $1,634,196.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julius Genachowski sold 2,009 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $281.79, for a total transaction of $566,116.11. Following the sale, the director now directly owns 7,346 shares in the company, valued at $2,070,029.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,005,122 shares of company stock worth $304,245,598. Insiders own 3.79% of the company’s stock.
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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