Mechanics Bank Trust Department Acquires 1,688 Shares of Mastercard Inc (NYSE:MA)

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Mechanics Bank Trust Department raised its holdings in shares of Mastercard Inc (NYSE:MA) by 140.7% during the third quarter, Holdings Channel reports. The fund owned 2,888 shares of the credit services provider’s stock after buying an additional 1,688 shares during the period. Mechanics Bank Trust Department’s holdings in Mastercard were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MA. Nuveen Asset Management LLC grew its position in Mastercard by 2,608.7% during the second quarter. Nuveen Asset Management LLC now owns 9,177,186 shares of the credit services provider’s stock valued at $2,427,641,000 after acquiring an additional 8,838,385 shares during the last quarter. Polen Capital Management LLC grew its position in Mastercard by 65.9% during the second quarter. Polen Capital Management LLC now owns 4,392,067 shares of the credit services provider’s stock valued at $1,161,833,000 after acquiring an additional 1,744,262 shares during the last quarter. Invesco Ltd. grew its position in Mastercard by 50.9% during the second quarter. Invesco Ltd. now owns 5,016,084 shares of the credit services provider’s stock valued at $1,326,906,000 after acquiring an additional 1,691,911 shares during the last quarter. JPMorgan Chase & Co. grew its position in Mastercard by 12.5% during the second quarter. JPMorgan Chase & Co. now owns 13,943,219 shares of the credit services provider’s stock valued at $3,640,576,000 after acquiring an additional 1,548,776 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in Mastercard by 26,075.5% during the second quarter. Thoroughbred Financial Services LLC now owns 1,285,481 shares of the credit services provider’s stock valued at $128,548,000 after acquiring an additional 1,280,570 shares during the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.

In other news, Director Lance Darrell Gordon Uggla bought 1,500 shares of Mastercard stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $275.71 per share, with a total value of $413,565.00. Following the acquisition, the director now owns 3,691 shares of the company’s stock, valued at $1,017,645.61. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 7,950 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $281.12, for a total value of $2,234,904.00. Following the completion of the sale, the insider now directly owns 112,126,112 shares of the company’s stock, valued at $31,520,892,605.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,377 shares of company stock valued at $36,117,135. Insiders own 3.70% of the company’s stock.

NYSE:MA opened at $270.63 on Monday. The stock has a 50-day simple moving average of $275.93 and a 200-day simple moving average of $263.97. The stock has a market cap of $280.54 billion, a P/E ratio of 39.50, a P/E/G ratio of 2.30 and a beta of 1.06. Mastercard Inc has a 1 year low of $171.89 and a 1 year high of $293.69. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.49 and a current ratio of 1.49.

Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. On average, equities research analysts predict that Mastercard Inc will post 7.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.49%. Mastercard’s dividend payout ratio is currently 20.34%.

A number of research analysts have commented on MA shares. Moffett Nathanson set a $320.00 price target on shares of Mastercard and gave the company a “buy” rating in a research report on Wednesday, September 18th. William Blair reissued an “outperform” rating on shares of Mastercard in a research note on Friday, September 13th. SunTrust Banks boosted their target price on Mastercard from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. ValuEngine cut Mastercard from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Susquehanna Bancshares boosted their target price on Mastercard from $293.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Mastercard presently has an average rating of “Buy” and a consensus target price of $299.09.

Mastercard Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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