M&T Bank Corp Reduces Stock Holdings in Mastercard Incorporated (NYSE:MA)

M&T Bank Corp reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 409,849 shares of the credit services provider’s stock after selling 20,552 shares during the period. Mastercard makes up 0.8% of M&T Bank Corp’s holdings, making the stock its 25th biggest holding. M&T Bank Corp’s holdings in Mastercard were worth $224,646,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Founders Financial Alliance LLC boosted its position in Mastercard by 2.9% during the 4th quarter. Founders Financial Alliance LLC now owns 676 shares of the credit services provider’s stock valued at $356,000 after purchasing an additional 19 shares during the period. BlackDiamond Wealth Management LLC boosted its position in Mastercard by 2.3% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 846 shares of the credit services provider’s stock valued at $445,000 after purchasing an additional 19 shares during the period. Fi3 FINANCIAL ADVISORS LLC boosted its position in Mastercard by 2.6% during the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 736 shares of the credit services provider’s stock valued at $388,000 after purchasing an additional 19 shares during the period. Strategy Asset Managers LLC boosted its position in Mastercard by 2.1% during the 4th quarter. Strategy Asset Managers LLC now owns 911 shares of the credit services provider’s stock valued at $480,000 after purchasing an additional 19 shares during the period. Finally, Phillips Wealth Planners LLC boosted its position in Mastercard by 1.8% during the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider’s stock valued at $538,000 after purchasing an additional 19 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of the business’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the sale, the insider directly owned 58,451 shares of the company’s stock, valued at $20,636,125.55. The trade was a 13.89% decrease in their ownership of the stock. The sale 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 Mastercard stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $561.00, for a total value of $173,910.00. Following the transaction, the director owned 8,323 shares in the company, valued at $4,669,203. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,441 shares of company stock valued at $20,173,035 over the last ninety days. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Down 0.7%

Shares of Mastercard stock opened at $565.41 on Tuesday. The stock’s fifty day moving average is $567.45 and its 200-day moving average is $547.10. The firm has a market capitalization of $515.49 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $594.71.

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, topping analysts’ consensus estimates 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%. Mastercard’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.31 earnings per share. Equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MA shares. UBS Group boosted their price objective on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. KeyCorp boosted their price target on Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Citigroup boosted their price target on Mastercard from $650.00 to $652.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Evercore ISI started coverage on Mastercard in a research report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price target for the company. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $611.50.

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.