Heartland Bank & Trust Co Trims Holdings in Mastercard Incorporated $MA

Heartland Bank & Trust Co trimmed its position in Mastercard Incorporated (NYSE:MA) by 0.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,928 shares of the credit services provider’s stock after selling 27 shares during the quarter. Mastercard makes up about 0.8% of Heartland Bank & Trust Co’s portfolio, making the stock its 26th largest position. Heartland Bank & Trust Co’s holdings in Mastercard were worth $1,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NorthRock Partners LLC grew its holdings in Mastercard by 8.6% during the second quarter. NorthRock Partners LLC now owns 11,190 shares of the credit services provider’s stock worth $6,286,000 after acquiring an additional 882 shares during the period. Verdence Capital Advisors LLC grew its holdings in Mastercard by 1.2% during the second quarter. Verdence Capital Advisors LLC now owns 14,184 shares of the credit services provider’s stock worth $7,970,000 after acquiring an additional 170 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Mastercard by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 65,000 shares of the credit services provider’s stock worth $36,526,000 after acquiring an additional 3,998 shares during the period. Concord Asset Management LLC VA grew its holdings in Mastercard by 16.5% during the second quarter. Concord Asset Management LLC VA now owns 5,769 shares of the credit services provider’s stock worth $3,242,000 after acquiring an additional 815 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Mastercard by 9.1% during the second quarter. Sequoia Financial Advisors LLC now owns 23,013 shares of the credit services provider’s stock worth $12,932,000 after acquiring an additional 1,921 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard 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 $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 is available at this link. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on MA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Truist Financial dropped their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Wells Fargo & Company upped their target price on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, TD Cowen reiterated a “buy” rating and set a $645.00 target price on shares of Mastercard in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Mastercard presently has an average rating of “Buy” and an average target price of $634.04.

Mastercard Stock Performance

Shares of NYSE:MA opened at $558.89 on Tuesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50 day moving average price is $580.79 and its 200-day moving average price is $563.03. The firm has a market capitalization of $505.24 billion, a PE ratio of 37.69, a P/E/G ratio of 2.28 and a beta of 0.97. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. As a group, equities research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

About Mastercard

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.