Legacy Private Trust Co. Reduces Stock Position in Mastercard Incorporated (NYSE:MA)

Legacy Private Trust Co. lessened its position in shares of Mastercard Incorporated (NYSE:MA) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,889 shares of the credit services provider’s stock after selling 1,149 shares during the quarter. Legacy Private Trust Co.’s holdings in Mastercard were worth $9,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MA. Norges Bank purchased a new stake in shares of Mastercard in the fourth quarter worth about $3,308,223,000. Moneta Group Investment Advisors LLC raised its holdings in Mastercard by 111,819.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock worth $2,080,549,000 after purchasing an additional 5,977,885 shares during the period. Envestnet Asset Management Inc. raised its holdings in Mastercard by 241.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,791,626 shares of the credit services provider’s stock worth $507,830,000 after purchasing an additional 3,386,762 shares during the period. Morgan Stanley raised its holdings in Mastercard by 17.7% in the 4th quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock worth $5,509,328,000 after purchasing an additional 2,385,640 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Mastercard by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,027,189 shares of the credit services provider’s stock worth $9,398,165,000 after purchasing an additional 2,247,291 shares during the period. Hedge funds and other institutional investors own 74.94% of the company’s stock.

Mastercard Stock Up 0.6 %

MA traded up $2.57 on Friday, hitting $415.91. 1,167,234 shares of the company were exchanged, compared to its average volume of 2,667,749. Mastercard Incorporated has a twelve month low of $276.87 and a twelve month high of $418.60. The company has a market cap of $391.88 billion, a price-to-earnings ratio of 39.00, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.57. The firm has a 50-day moving average price of $401.06 and a two-hundred day moving average price of $380.95.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.05. The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.18 billion. Mastercard had a return on equity of 178.10% and a net margin of 43.37%. Mastercard’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 EPS. On average, equities analysts predict that Mastercard Incorporated will post 12.13 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, July 7th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, July 6th. Mastercard’s payout ratio is currently 21.37%.

Insider Activity

In related news, CFO J. Mehra Sachin sold 6,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $413.65, for a total value of $2,481,900.00. Following the transaction, the chief financial officer now owns 20,707 shares in the company, valued at approximately $8,565,450.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO J. Mehra Sachin sold 6,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $413.65, for a total value of $2,481,900.00. Following the transaction, the chief financial officer now owns 20,707 shares in the company, valued at approximately $8,565,450.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hai Ling sold 3,324 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $415.00, for a total value of $1,379,460.00. Following the completion of the transaction, the insider now owns 17,577 shares in the company, valued at approximately $7,294,455. The disclosure for this sale can be found here. In the last three months, insiders sold 407,267 shares of company stock valued at $161,485,243. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

MA has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on Mastercard from $435.00 to $450.00 in a report on Friday, July 28th. Credit Suisse Group increased their target price on Mastercard from $400.00 to $430.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Bank of America increased their target price on Mastercard from $438.00 to $442.00 in a report on Tuesday, July 18th. Morgan Stanley increased their target price on Mastercard from $440.00 to $443.00 in a report on Friday, July 28th. Finally, Mizuho reissued a “buy” rating and set a $435.00 target price on shares of Mastercard in a report on Tuesday, August 29th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $442.83.

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.