Mastercard Incorporated $MA Shares Sold by Elefante Mark B

Elefante Mark B reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,224 shares of the credit services provider’s stock after selling 940 shares during the quarter. Mastercard makes up 4.7% of Elefante Mark B’s investment portfolio, making the stock its 3rd biggest holding. Elefante Mark B’s holdings in Mastercard were worth $6,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after acquiring an additional 365,537 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mastercard in the 2nd quarter valued at about $11,421,213,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mastercard by 4.7% in the 1st 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 last quarter. Wellington Management Group LLP lifted its holdings in shares of Mastercard by 38.6% in the 1st 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 last quarter. Finally, Nuveen LLC purchased a new stake in shares of Mastercard in the 1st quarter valued at about $4,238,764,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Truist Financial reduced their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday, July 17th. KeyCorp increased their price objective on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Robert W. Baird increased their price objective on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective for the company. Finally, Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Mastercard presently has a consensus rating of “Buy” and a consensus target price of $634.04.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’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 transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Stock Up 0.3%

MA opened at $558.89 on Tuesday. The business has a 50 day moving average price of $580.79 and a two-hundred day moving average price of $563.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market cap 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 52 week low of $465.59 and a 52 week high of $601.77.

Mastercard (NYSE:MA) last posted 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. The firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 EPS. As a group, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

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