Hartford Funds Management Co LLC Decreases Stake in Mastercard Incorporated $MA

Hartford Funds Management Co LLC decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 86.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365 shares of the credit services provider’s stock after selling 2,419 shares during the quarter. Mastercard makes up approximately 0.0% of Hartford Funds Management Co LLC’s portfolio, making the stock its 17th biggest position. Hartford Funds Management Co LLC’s holdings in Mastercard were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Accredited Investors Inc. increased its position in shares of Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 18 shares in the last quarter. Wealthstream Advisors Inc. grew its stake in Mastercard by 2.9% during the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock worth $347,000 after buying an additional 18 shares during the last quarter. Pinion Investment Advisors LLC increased its position in Mastercard by 0.8% during the second quarter. Pinion Investment Advisors LLC now owns 2,272 shares of the credit services provider’s stock worth $1,276,000 after buying an additional 18 shares during the period. KRS Capital Management LLC boosted its holdings in shares of Mastercard by 0.6% in the second quarter. KRS Capital Management LLC now owns 2,848 shares of the credit services provider’s stock valued at $1,601,000 after acquiring an additional 18 shares during the period. Finally, Nvest Financial LLC grew its position in shares of Mastercard by 1.2% during the second quarter. Nvest Financial LLC now owns 1,505 shares of the credit services provider’s stock worth $846,000 after acquiring an additional 18 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of recent research reports. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Morgan Stanley set a $665.00 price objective on Mastercard and gave the company an “overweight” rating in a research note on Friday, October 31st. UBS Group lifted their target price on Mastercard from $690.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird upped their price target on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, TD Cowen reiterated a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus price target of $649.26.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Mastercard Stock Performance

NYSE MA opened at $551.98 on Monday. The company has a market capitalization of $499.00 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The business’s 50-day moving average price is $572.24 and its 200 day moving average price is $569.51.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.89 earnings per share. On average, research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.6%. Mastercard’s dividend payout ratio (DPR) is currently 19.44%.

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.