Grove Bank & Trust Sells 147 Shares of Mastercard Incorporated $MA

Grove Bank & Trust decreased its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 10,317 shares of the credit services provider’s stock after selling 147 shares during the quarter. Grove Bank & Trust’s holdings in Mastercard were worth $5,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group bought a new stake in Mastercard in the 2nd quarter valued at $1,373,000. Western Pacific Wealth Management LP raised its stake in shares of Mastercard by 6.3% in the 2nd quarter. Western Pacific Wealth Management LP now owns 1,041 shares of the credit services provider’s stock valued at $585,000 after purchasing an additional 62 shares during the period. Charter Oak Capital Management LLC lifted its holdings in shares of Mastercard by 51.4% in the second quarter. Charter Oak Capital Management LLC now owns 1,687 shares of the credit services provider’s stock valued at $948,000 after purchasing an additional 573 shares in the last quarter. Voisard Asset Management Group Inc. boosted its position in shares of Mastercard by 6.4% during the second quarter. Voisard Asset Management Group Inc. now owns 497 shares of the credit services provider’s stock worth $279,000 after buying an additional 30 shares during the period. Finally, Trust Point Inc. grew its holdings in shares of Mastercard by 19.4% during the second quarter. Trust Point Inc. now owns 5,766 shares of the credit services provider’s stock worth $3,240,000 after buying an additional 937 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MA shares. TD Cowen restated a “buy” rating and issued a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. UBS Group lifted their price objective on shares of Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Royal Bank Of Canada increased 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Finally, Morgan Stanley boosted their price target on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus price target of $630.89.

Mastercard Trading Down 2.0%

Shares of NYSE:MA opened at $586.39 on Friday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $530.11 billion, a P/E ratio of 39.54, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99. The company has a 50-day simple moving average of $576.55 and a 200 day simple moving average of $558.89.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the business earned $3.50 earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors 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 is Thursday, October 9th. Mastercard’s dividend payout ratio is 20.50%.

Insiders Place Their Bets

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total transaction of $601,447.00. Following the completion of the sale, the insider owned 12,921 shares of the company’s stock, valued at $7,064,815.17. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the company’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the transaction, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,717 shares of company stock worth $22,684,831. Company insiders own 0.09% of the company’s stock.

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.