Valley National Advisers Inc. increased its holdings in shares of Mastercard Incorporated (NYSE:MA – Get Rating) by 34.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 198 shares of the credit services provider’s stock after purchasing an additional 51 shares during the period. Valley National Advisers Inc.’s holdings in Mastercard were worth $71,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in MA. Aspiriant LLC lifted its holdings in shares of Mastercard by 2.2% during the first quarter. Aspiriant LLC now owns 3,387 shares of the credit services provider’s stock worth $1,210,000 after buying an additional 72 shares during the last quarter. Americana Partners LLC raised its stake in Mastercard by 9.6% during the 1st quarter. Americana Partners LLC now owns 1,985 shares of the credit services provider’s stock valued at $647,000 after purchasing an additional 174 shares during the last quarter. JTC Employer Solutions Trustee Ltd boosted its holdings in Mastercard by 12.2% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 13,910 shares of the credit services provider’s stock valued at $4,973,000 after purchasing an additional 1,510 shares during the period. Schmidt P J Investment Management Inc. grew its position in Mastercard by 0.8% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 8,964 shares of the credit services provider’s stock worth $3,257,000 after purchasing an additional 73 shares during the last quarter. Finally, Troy Asset Management Ltd grew its position in Mastercard by 11.8% in the 1st quarter. Troy Asset Management Ltd now owns 180,149 shares of the credit services provider’s stock worth $64,382,000 after purchasing an additional 19,085 shares during the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Mastercard from $450.00 to $400.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Piper Sandler lowered their price objective on Mastercard from $357.00 to $298.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 6th. Citigroup reduced their target price on Mastercard from $453.00 to $415.00 in a research report on Tuesday, July 26th. Truist Financial boosted their price target on shares of Mastercard from $420.00 to $440.00 and gave the company a “maintains” rating in a report on Friday, July 29th. Finally, Morgan Stanley raised their price objective on shares of Mastercard from $452.00 to $457.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $414.78.
Mastercard Stock Up 1.5 %
Mastercard (NYSE:MA – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The credit services provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Mastercard had a net margin of 46.49% and a return on equity of 143.35%. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The company’s revenue was up 21.5% on a year-over-year basis. As a group, research analysts forecast that Mastercard Incorporated will post 10.64 EPS for the current fiscal year.
Mastercard Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Shareholders of record on Friday, July 8th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 7th. Mastercard’s dividend payout ratio is currently 19.86%.
Insiders Place Their Bets
In other Mastercard news, major shareholder Foundation Mastercard sold 106,326 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $327.74, for a total transaction of $34,847,283.24. Following the sale, the insider now owns 103,841,972 shares of the company’s stock, valued at approximately $34,033,167,903.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 318,982 shares of company stock valued at $105,338,500 in the last 90 days. 0.33% of the stock is currently owned by insiders.
Mastercard Company 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 other payment-related products and services.
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