State of New Jersey Common Pension Fund D Has $155.58 Million Stock Holdings in Mastercard Incorporated $MA

State of New Jersey Common Pension Fund D cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,862 shares of the credit services provider’s stock after selling 213 shares during the period. Mastercard comprises approximately 0.6% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 21st largest position. State of New Jersey Common Pension Fund D’s holdings in Mastercard were worth $155,580,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC lifted its position in shares of Mastercard by 73.2% in the 2nd quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 295 shares during the period. Ethos Financial Group LLC lifted its position in shares of Mastercard by 19.5% in the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider’s stock worth $1,683,000 after purchasing an additional 518 shares during the period. Wheelhouse Advisory Group LLC lifted its position in shares of Mastercard by 4.4% in the 2nd quarter. Wheelhouse Advisory Group LLC now owns 1,336 shares of the credit services provider’s stock worth $751,000 after purchasing an additional 56 shares during the period. Canandaigua National Trust Co of Florida lifted its position in shares of Mastercard by 36.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider’s stock worth $380,000 after purchasing an additional 185 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its position in shares of Mastercard by 4.3% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider’s stock worth $3,632,000 after purchasing an additional 264 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MA shares. Truist Financial set a $638.00 price target on shares of Mastercard in a research report on Friday. Morgan Stanley boosted their target price on shares of Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Royal Bank Of Canada boosted their target price on shares of Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Mastercard has an average rating of “Buy” and a consensus target price of $638.96.

Mastercard Stock Performance

Shares of MA stock opened at $573.72 on Friday. The firm has a market capitalization of $518.65 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The firm has a fifty day simple moving average of $579.51 and a two-hundred day simple moving average of $565.40. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the business posted $3.50 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be paid a $0.76 dividend. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.