Chemung Canal Trust Co. Has $295,000 Stock Holdings in Mastercard Incorporated $MA

Chemung Canal Trust Co. trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 33.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 525 shares of the credit services provider’s stock after selling 264 shares during the period. Chemung Canal Trust Co.’s holdings in Mastercard were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Accredited Investors Inc. grew its position in Mastercard by 2.6% in the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock worth $394,000 after acquiring an additional 18 shares in the last quarter. Wealthstream Advisors Inc. boosted its holdings in Mastercard by 2.9% in the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock worth $347,000 after purchasing an additional 18 shares in the last quarter. Phillips Wealth Planners LLC increased its position in Mastercard by 1.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider’s stock worth $538,000 after buying an additional 19 shares during the last quarter. Alta Wealth Advisors LLC lifted its position in shares of Mastercard by 3.6% in the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider’s stock worth $296,000 after buying an additional 19 shares during the last quarter. Finally, May Hill Capital LLC increased its holdings in shares of Mastercard by 2.0% during the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider’s stock valued at $540,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In other Mastercard news, Director Julius Genachowski sold 312 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the transaction, the director owned 8,469 shares in the company, valued at $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,391 shares of company stock valued at $20,836,514. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MA shares. Wolfe Research set a $655.00 target price on Mastercard in a report on Monday, June 23rd. KeyCorp boosted their price objective on shares of Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Morgan Stanley upped their price objective on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their target price on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Mastercard presently has an average rating of “Buy” and an average price target of $630.89.

Mastercard Stock Up 0.6%

NYSE MA opened at $581.08 on Friday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The stock has a market cap of $525.30 billion, a PE ratio of 39.18, a PEG ratio of 2.38 and a beta of 0.97. The firm has a 50-day simple moving average of $580.26 and a 200 day simple moving average of $561.85. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the prior year, the firm posted $3.50 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s payout ratio is 20.50%.

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.