Meritage Portfolio Management Cuts Stock Position in Mastercard Incorporated (NYSE:MA)

Meritage Portfolio Management reduced its position in Mastercard Incorporated (NYSE:MA) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,956 shares of the credit services provider’s stock after selling 824 shares during the quarter. Mastercard accounts for approximately 1.3% of Meritage Portfolio Management’s holdings, making the stock its 10th biggest holding. Meritage Portfolio Management’s holdings in Mastercard were worth $20,256,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MA. Brighton Jones LLC lifted its position in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after purchasing an additional 2,028 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Mastercard by 11.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider’s stock worth $37,108,000 after buying an additional 7,452 shares during the period. Victory Capital Management Inc. lifted its holdings in Mastercard by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 525,676 shares of the credit services provider’s stock valued at $276,805,000 after buying an additional 8,477 shares in the last quarter. Carrera Capital Advisors lifted its holdings in Mastercard by 8.1% during the 4th quarter. Carrera Capital Advisors now owns 545 shares of the credit services provider’s stock valued at $287,000 after buying an additional 41 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Mastercard in the 4th quarter valued at about $1,017,000. Institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $546.77, for a total transaction of $601,447.00. Following the sale, the insider owned 12,921 shares of the company’s stock, valued at approximately $7,064,815.17. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julius Genachowski sold 310 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $561.00, for a total transaction of $173,910.00. Following the completion of the transaction, the director directly owned 8,323 shares of the company’s stock, valued at approximately $4,669,203. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,441 shares of company stock worth $20,173,035 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Mastercard Stock Performance

Shares of MA opened at $561.75 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. The firm has a market cap of $512.15 billion, a PE ratio of 39.39, a P/E/G ratio of 2.45 and a beta of 1.02. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $594.71. The stock has a fifty day moving average price of $565.55 and a 200-day moving average price of $546.00.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.16. The company had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.31 EPS. Equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. Mastercard’s dividend payout ratio (DPR) is currently 21.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp raised their target price on shares of Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Evercore ISI assumed coverage on Mastercard in a report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price objective on the stock. Citigroup lifted their target price on Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research report on Monday, May 5th. UBS Group increased their price target on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Finally, Tigress Financial restated a “strong-buy” rating on shares of Mastercard in a research note on Monday, March 10th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.50.

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.