Agate Pass Investment Management LLC Sells 58 Shares of Mastercard Incorporated $MA

Agate Pass Investment Management LLC decreased its stake in Mastercard Incorporated (NYSE:MA) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,579 shares of the credit services provider’s stock after selling 58 shares during the period. Mastercard accounts for about 1.5% of Agate Pass Investment Management LLC’s holdings, making the stock its 17th biggest position. Agate Pass Investment Management LLC’s holdings in Mastercard were worth $3,697,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Mastercard by 0.5% in the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock valued at $42,503,787,000 after purchasing an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Mastercard in the second quarter valued at approximately $11,421,213,000. Price T Rowe Associates Inc. MD raised its position in shares of Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after purchasing an additional 907,184 shares during the period. Wellington Management Group LLP raised its position in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Mastercard in the first quarter valued at approximately $4,238,764,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

MA stock opened at $556.80 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The stock has a market cap of $503.35 billion, a PE ratio of 37.55, a P/E/G ratio of 2.31 and a beta of 0.97. The firm has a 50 day simple moving average of $581.01 and a two-hundred day simple moving average of $562.77.

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

Mastercard Announces Dividend

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

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business’s 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 completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,330,922.26. The trade was a 36.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price target on the stock. Seaport Res Ptn raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Morgan Stanley boosted their price objective on shares of Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mastercard in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $634.04.

Mastercard Company 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.