OLD National Bancorp IN Purchases 8,471 Shares of Mastercard Incorporated $MA

OLD National Bancorp IN boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 77.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,340 shares of the credit services provider’s stock after buying an additional 8,471 shares during the quarter. OLD National Bancorp IN’s holdings in Mastercard were worth $10,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MA. Family Legacy Financial Solutions LLC bought a new position in Mastercard in the 2nd quarter worth $26,000. Flaharty Asset Management LLC bought a new position in Mastercard in the 1st quarter worth $27,000. Keystone Global Partners LLC bought a new position in Mastercard in the 1st quarter worth $31,000. Hughes Financial Services LLC bought a new position in Mastercard in the 1st quarter worth $34,000. Finally, 1 North Wealth Services LLC bought a new position in Mastercard in the 1st quarter worth $44,000. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Performance

Shares of MA stock opened at $581.08 on Friday. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company’s 50-day moving average is $580.26 and its 200 day moving average is $561.85. The company has a market capitalization of $525.30 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA) last announced 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. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the firm posted $3.50 EPS. Mastercard’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on MA shares. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Truist Financial reduced their target price on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Morgan Stanley upped their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $630.89.

Insider Transactions at Mastercard

In other news, Director Julius Genachowski sold 312 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,391 shares of company stock worth $20,836,514. Insiders own 0.09% of the company’s stock.

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.