Mastercard Incorporated (NYSE:MA) is Ignite Planners LLC’s 10th Largest Position

Ignite Planners LLC reduced its position in Mastercard Incorporated (NYSE:MA) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,611 shares of the credit services provider’s stock after selling 48 shares during the quarter. Mastercard makes up about 1.6% of Ignite Planners LLC’s holdings, making the stock its 10th largest position. Ignite Planners LLC’s holdings in Mastercard were worth $4,124,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Mastercard in the fourth quarter valued at $3,308,223,000. Moneta Group Investment Advisors LLC grew its position in shares of Mastercard by 111,819.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock valued at $2,080,549,000 after purchasing an additional 5,977,885 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Mastercard by 241.1% during the first quarter. Envestnet Asset Management Inc. now owns 4,791,626 shares of the credit services provider’s stock worth $507,830,000 after buying an additional 3,386,762 shares in the last quarter. Morgan Stanley increased its position in shares of Mastercard by 17.7% in the fourth 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 last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Mastercard by 9.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,027,189 shares of the credit services provider’s stock valued at $9,398,165,000 after buying an additional 2,247,291 shares in the last quarter. 74.94% of the stock is currently owned by institutional investors.

Mastercard Stock Up 0.6 %

Shares of NYSE:MA traded up $2.51 during trading on Monday, reaching $416.82. 610,229 shares of the stock traded hands, compared to its average volume of 2,676,630. The stock has a market cap of $392.73 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. Mastercard Incorporated has a 52-week low of $276.87 and a 52-week high of $418.60. 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 stock has a 50-day moving average of $401.97 and a two-hundred day moving average of $381.97.

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 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 firm had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the business earned $2.56 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Mastercard Incorporated will post 12.13 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on MA. Citigroup boosted their price target on shares of Mastercard from $440.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Mizuho reiterated a “buy” rating and set a $435.00 price target on shares of Mastercard in a report on Tuesday, August 29th. StockNews.com began coverage on shares of Mastercard in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their target price on Mastercard from $442.00 to $452.00 in a research note on Thursday, July 13th. Finally, Jefferies Financial Group boosted their price target on Mastercard from $460.00 to $475.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $442.83.

Insider Activity

In other news, major shareholder Foundation Mastercard sold 125,816 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $391.39, for a total transaction of $49,243,124.24. Following the transaction, the insider now directly owns 99,430,749 shares of the company’s stock, valued at approximately $38,916,200,851.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Foundation Mastercard sold 125,816 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 99,430,749 shares in the company, valued at approximately $38,916,200,851.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hai Ling sold 3,324 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $415.00, for a total transaction of $1,379,460.00. Following the sale, the insider now directly owns 17,577 shares of the company’s stock, valued at $7,294,455. The disclosure for this sale can be found here. Insiders sold 407,267 shares of company stock valued at $161,485,243 over the last three months. Insiders own 0.13% of the company’s stock.

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.