Next Century Growth Investors LLC reduced its position in Mastercard Incorporated (NYSE:MA) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,114 shares of the credit services provider’s stock after selling 437 shares during the period. Next Century Growth Investors LLC’s holdings in Mastercard were worth $4,057,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in MA. Paragon Wealth Strategies LLC bought a new position in Mastercard in the second quarter worth about $34,000. Rocky Mountain Advisers LLC bought a new position in Mastercard in the second quarter worth about $36,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Mastercard in the first quarter worth about $36,000. Harbour Investments Inc. bought a new position in Mastercard in the first quarter worth about $37,000. Finally, Tradewinds Capital Management LLC bought a new position in Mastercard in the second quarter worth about $48,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.
In other news, CFO J. Mehra Sachin sold 7,838 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $385.42, for a total transaction of $3,020,921.96. Following the completion of the transaction, the chief financial officer now directly owns 20,320 shares of the company’s stock, valued at approximately $7,831,734.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 78,985 shares of the stock in a transaction on Monday, August 16th. The shares were sold at an average price of $358.90, for a total value of $28,347,716.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 797,580 shares of company stock valued at $299,602,012. Corporate insiders own 0.33% of the company’s stock.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 29th. The credit services provider reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.23. Mastercard had a return on equity of 109.48% and a net margin of 43.22%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.35 billion. On average, analysts expect that Mastercard Incorporated will post 8.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 9th. Stockholders of record on Friday, October 8th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, October 7th. Mastercard’s payout ratio is 27.37%.
A number of equities analysts have commented on MA shares. Robert W. Baird reiterated a “buy” rating and issued a $482.00 target price on shares of Mastercard in a report on Sunday, August 1st. Barclays boosted their price target on Mastercard from $452.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. Wells Fargo & Company boosted their price target on Mastercard from $430.00 to $440.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Compass Point boosted their price target on Mastercard from $430.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Finally, BMO Capital Markets boosted their price target on Mastercard from $427.00 to $429.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus target price of $418.48.
Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.
See Also: Return on Equity (ROE)
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