Clarendon Private LLC Decreases Stock Position in Mastercard Incorporated $MA

Clarendon Private LLC cut its holdings in Mastercard Incorporated (NYSE:MA) by 13.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,496 shares of the credit services provider’s stock after selling 392 shares during the quarter. Mastercard makes up about 1.3% of Clarendon Private LLC’s holdings, making the stock its 15th largest holding. Clarendon Private LLC’s holdings in Mastercard were worth $1,403,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Accredited Investors Inc. raised its stake in shares of 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 purchasing an additional 18 shares during the last quarter. Wealthstream Advisors Inc. raised its stake in shares of 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 during the last quarter. KRS Capital Management LLC raised its stake 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 worth $1,601,000 after purchasing an additional 18 shares during the last quarter. Pinion Investment Advisors LLC raised its stake in shares of Mastercard by 0.8% in the second quarter. Pinion Investment Advisors LLC now owns 2,272 shares of the credit services provider’s stock worth $1,276,000 after purchasing an additional 18 shares during the last quarter. Finally, Phillips Wealth Planners LLC raised its stake in shares of Mastercard by 1.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider’s stock worth $538,000 after purchasing an additional 19 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Down 1.4%

Shares of MA opened at $556.80 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The stock’s 50 day moving average is $581.01 and its two-hundred day moving average is $562.86. The firm has a market cap of $503.35 billion, a P/E ratio of 37.55, a PEG ratio of 2.28 and a beta of 0.97.

Mastercard (NYSE:MA) last issued its quarterly earnings data 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 company had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the company earned $3.50 earnings per share. Mastercard’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently disclosed 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 dividend payout ratio (DPR) is presently 20.50%.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the subject of several research analyst reports. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Morgan Stanley raised their price objective on Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a report on Thursday, July 17th. They set a “buy” rating and a $650.00 target price on the stock. Wolfe Research set a $655.00 target price on Mastercard in a report on Monday, June 23rd. Finally, Truist Financial dropped their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus price target of $634.04.

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.