Notis McConarty Edward Purchases Shares of 16,392 Mastercard Incorporated $MA

Notis McConarty Edward acquired a new position in shares of Mastercard Incorporated (NYSE:MA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 16,392 shares of the credit services provider’s stock, valued at approximately $8,419,000. Mastercard makes up about 3.6% of Notis McConarty Edward’s portfolio, making the stock its 7th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Somerville Kurt F bought a new stake in shares of Mastercard during the second quarter worth about $13,138,000. Puzo Michael J bought a new position in Mastercard in the 2nd quarter valued at about $12,884,000. Abacus FCF Advisors LLC bought a new stake in Mastercard during the 2nd quarter worth approximately $7,223,000. Madison Asset Management LLC bought a new stake in Mastercard during the 2nd quarter worth approximately $752,000. Finally, Flossbach Von Storch SE purchased a new stake in shares of Mastercard in the second quarter worth approximately $275,074,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Miebach sold 16,628 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $567.68, for a total transaction of $9,439,383.04. Following the completion of the sale, the chief executive officer owned 115,921 shares in the company, valued at $65,806,033.28. This trade represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Raj Seshadri sold 4,828 shares of Mastercard stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $525.00, for a total transaction of $2,534,700.00. Following the completion of the sale, the insider directly owned 16,429 shares in the company, valued at $8,625,225. This trade represents a 22.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 71,357 shares of company stock worth $40,637,262. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MA shares. Royal Bank Of Canada lifted their target price on Mastercard from $629.00 to $642.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Clear Str raised Mastercard to a “strong-buy” rating in a research report on Thursday, July 16th. KeyCorp raised their price objective on Mastercard from $670.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $701.00 price objective on shares of Mastercard in a report on Thursday, July 30th. Finally, Wolfe Research upped their target price on shares of Mastercard from $680.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $664.71.

Mastercard Stock Performance

Shares of Mastercard stock opened at $598.69 on Wednesday. The business’s fifty day simple moving average is $542.94 and its 200 day simple moving average is $518.46. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 3.96. Mastercard Incorporated has a 12 month low of $464.52 and a 12 month high of $601.62. The firm has a market capitalization of $524.46 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.72.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.27. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.08 billion. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The business’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $4.15 EPS. As a group, analysts anticipate that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Thursday, July 9th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 9th. Mastercard’s dividend payout ratio is currently 19.14%.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.