Mastercard Incorporated (NYSE:MA) Shares Sold by Somerset Trust Co

Somerset Trust Co lessened its position in Mastercard Incorporated (NYSE:MA) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 952 shares of the credit services provider’s stock after selling 97 shares during the quarter. Somerset Trust Co’s holdings in Mastercard were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Independence Bank of Kentucky increased its holdings in shares of Mastercard by 10.4% in the 2nd quarter. Independence Bank of Kentucky now owns 531 shares of the credit services provider’s stock worth $209,000 after acquiring an additional 50 shares during the period. Deane Retirement Strategies Inc. grew its position in Mastercard by 0.8% in the 2nd quarter. Deane Retirement Strategies Inc. now owns 5,079 shares of the credit services provider’s stock valued at $1,996,000 after buying an additional 41 shares in the last quarter. Metropolis Capital Ltd grew its position in Mastercard by 40.4% in the 2nd quarter. Metropolis Capital Ltd now owns 360,418 shares of the credit services provider’s stock valued at $141,752,000 after buying an additional 103,793 shares in the last quarter. Capital Market Strategies LLC bought a new position in Mastercard in the 2nd quarter valued at about $396,000. Finally, Spence Asset Management grew its position in Mastercard by 0.6% in the 2nd quarter. Spence Asset Management now owns 69,501 shares of the credit services provider’s stock valued at $27,335,000 after buying an additional 436 shares in the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.

Mastercard Stock Performance

Shares of Mastercard stock traded up $0.19 during midday trading on Friday, hitting $413.53. The company had a trading volume of 768,533 shares, compared to its average volume of 2,665,997. The business’s 50 day simple moving average is $401.06 and its two-hundred day simple moving average is $380.95. The stock has a market cap of $389.63 billion, a PE ratio of 38.74, a P/E/G ratio of 1.87 and a beta of 1.10. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.13 and a quick ratio of 1.13. Mastercard Incorporated has a 1-year low of $276.87 and a 1-year high of $418.60.

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

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, July 6th. This represents a $2.28 dividend on an annualized basis and a yield of 0.55%. Mastercard’s dividend payout ratio is currently 21.37%.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 10,838 shares of Mastercard stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $394.38, for a total transaction of $4,274,290.44. Following the completion of the transaction, the chief financial officer now directly owns 20,707 shares of the company’s stock, valued at $8,166,426.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO J. Mehra Sachin sold 10,838 shares of Mastercard stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $394.38, for a total value of $4,274,290.44. Following the completion of the transaction, the chief financial officer now directly owns 20,707 shares of the company’s stock, valued at $8,166,426.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 125,816 shares of Mastercard stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $391.39, for a total value of $49,243,124.24. Following the completion of the transaction, the insider now directly owns 99,430,749 shares of the company’s stock, valued at $38,916,200,851.11. The disclosure for this sale can be found here. Insiders have sold 407,267 shares of company stock worth $161,485,243 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Mastercard from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. StockNews.com started coverage on shares of Mastercard in a research report on Thursday, August 17th. They set a “buy” rating for the company. 888 restated a “reiterates” rating on shares of Mastercard in a research report on Friday, June 30th. Jefferies Financial Group raised their target price on shares of Mastercard from $460.00 to $475.00 in a report on Friday. Finally, Susquehanna raised their target price on shares of Mastercard from $433.00 to $486.00 and gave the stock a “positive” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average price target 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.