Beese Fulmer Investment Management Inc. Sells 844 Shares of Mastercard Incorporated (NYSE:MA)

Beese Fulmer Investment Management Inc. cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,303 shares of the credit services provider’s stock after selling 844 shares during the quarter. Mastercard comprises 3.0% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 3rd biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Mastercard were worth $27,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MA. Bornite Capital Management LP acquired a new stake in shares of Mastercard during the 1st quarter worth $21,442,000. United Bank increased its stake in shares of Mastercard by 34.5% in the first quarter. United Bank now owns 6,007 shares of the credit services provider’s stock valued at $2,147,000 after buying an additional 1,541 shares during the period. Mackenzie Financial Corp increased its stake in shares of Mastercard by 30.1% in the first quarter. Mackenzie Financial Corp now owns 272,358 shares of the credit services provider’s stock valued at $97,335,000 after buying an additional 63,040 shares during the period. First Western Trust Bank acquired a new stake in shares of Mastercard in the first quarter valued at about $1,168,000. Finally, Bridgewater Associates LP acquired a new stake in shares of Mastercard in the first quarter valued at about $12,926,000. 74.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mastercard news, insider Craig Vosburg sold 6,333 shares of Mastercard stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $400.00, for a total transaction of $2,533,200.00. Following the completion of the sale, the insider now owns 46,491 shares of the company’s stock, valued at $18,596,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Mastercard news, insider Craig Vosburg sold 6,333 shares of Mastercard stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $400.00, for a total transaction of $2,533,200.00. Following the completion of the sale, the insider now owns 46,491 shares of the company’s stock, valued at $18,596,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief financial officer now directly owns 20,707 shares of the company’s stock, valued at approximately $8,166,426.66. The disclosure for this sale can be found here. Insiders sold a total of 407,267 shares of company stock valued at $161,485,243 over the last 90 days. Insiders own 0.13% of the company’s stock.

Mastercard Price Performance

Mastercard stock traded up $0.97 during midday trading on Friday, hitting $414.31. 4,755,526 shares of the company’s stock were exchanged, compared to its average volume of 2,688,428. Mastercard Incorporated has a 52-week low of $276.87 and a 52-week high of $418.60. The stock has a 50-day moving average price of $401.97 and a two-hundred day moving average price of $381.77. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $390.37 billion, a P/E ratio of 38.83, a PEG ratio of 1.87 and a beta of 1.10.

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

Mastercard Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Credit Suisse Group raised their target price on Mastercard from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Robert W. Baird raised their target price on Mastercard from $435.00 to $450.00 in a report on Friday, July 28th. Citigroup raised their target price on Mastercard from $440.00 to $455.00 and gave the company a “buy” rating in a report on Monday, July 31st. Jefferies Financial Group lifted their price target on Mastercard from $460.00 to $475.00 and gave the stock a “buy” rating in a report on Friday. Finally, BMO Capital Markets lifted their price target on Mastercard from $463.00 to $488.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $442.83.

Mastercard 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.