West Branch Capital LLC acquired a new stake in Mastercard Inc (NYSE:MA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 741 shares of the credit services provider’s stock, valued at approximately $201,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. DeDora Capital Inc. grew its stake in Mastercard by 4.4% during the 2nd quarter. DeDora Capital Inc. now owns 4,850 shares of the credit services provider’s stock worth $1,283,000 after purchasing an additional 203 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in Mastercard during the 2nd quarter worth about $18,541,000. Dearborn Partners LLC lifted its holdings in Mastercard by 3.5% during the 2nd quarter. Dearborn Partners LLC now owns 140,223 shares of the credit services provider’s stock worth $37,093,000 after buying an additional 4,762 shares during the last quarter. World Asset Management Inc lifted its holdings in Mastercard by 1.2% during the 2nd quarter. World Asset Management Inc now owns 61,819 shares of the credit services provider’s stock worth $16,353,000 after buying an additional 755 shares during the last quarter. Finally, Brightworth lifted its holdings in Mastercard by 18.4% during the 2nd quarter. Brightworth now owns 3,852 shares of the credit services provider’s stock worth $1,019,000 after buying an additional 599 shares during the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Nomura lifted their price target on Mastercard from $282.00 to $324.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. ValuEngine downgraded Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks boosted their target price on Mastercard from $310.00 to $325.00 and gave the company a “buy” rating in a report on Friday, September 13th. Deutsche Bank boosted their target price on Mastercard from $267.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, UBS Group boosted their target price on Mastercard from $300.00 to $312.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $299.09.
Mastercard (NYSE:MA) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.07. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. On average, research analysts anticipate that Mastercard Inc will post 7.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.49%. The ex-dividend date is Tuesday, October 8th. Mastercard’s payout ratio is 20.34%.
In other Mastercard news, insider Michael Miebach sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $285.00, for a total transaction of $789,450.00. Following the transaction, the insider now owns 12,778 shares in the company, valued at approximately $3,641,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 7,950 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $281.12, for a total value of $2,234,904.00. Following the transaction, the insider now owns 112,126,112 shares in the company, valued at approximately $31,520,892,605.44. The disclosure for this sale can be found here. Insiders have sold a total of 130,969 shares of company stock worth $35,963,564 in the last quarter. 3.70% of the stock is currently owned by insiders.
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 related products and services.
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