Redwood Investment Management LLC Has $1.97 Million Position in Mastercard Incorporated (NYSE:MA)

Redwood Investment Management LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 10.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,085 shares of the credit services provider’s stock after acquiring an additional 382 shares during the quarter. Redwood Investment Management LLC’s holdings in Mastercard were worth $1,967,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. PFG Advisors raised its stake in Mastercard by 11.9% during the fourth quarter. PFG Advisors now owns 3,153 shares of the credit services provider’s stock worth $1,345,000 after buying an additional 336 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Mastercard by 8.0% during the 4th quarter. AdvisorNet Financial Inc now owns 4,501 shares of the credit services provider’s stock valued at $1,920,000 after purchasing an additional 333 shares in the last quarter. Center For Asset Management LLC acquired a new stake in Mastercard during the fourth quarter worth approximately $218,000. Kowal Investment Group LLC bought a new stake in Mastercard in the fourth quarter worth approximately $230,000. Finally, Mayflower Financial Advisors LLC lifted its stake in Mastercard by 0.8% in the fourth quarter. Mayflower Financial Advisors LLC now owns 3,967 shares of the credit services provider’s stock valued at $1,692,000 after buying an additional 30 shares during the period. 97.28% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 142,000 shares of Mastercard stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $442.14, for a total value of $62,783,880.00. Following the completion of the sale, the insider now owns 96,377,308 shares of the company’s stock, valued at approximately $42,612,262,959.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Mastercard news, insider Craig Vosburg sold 9,028 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the sale, the insider now owns 58,940 shares in the company, valued at $26,585,476.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 142,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $442.14, for a total value of $62,783,880.00. Following the sale, the insider now owns 96,377,308 shares in the company, valued at $42,612,262,959.12. The disclosure for this sale can be found here. Insiders have sold 2,604,228 shares of company stock valued at $1,173,133,440 in the last 90 days. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

MA has been the subject of several research analyst reports. Evercore ISI lowered their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Susquehanna reiterated a “positive” rating and set a $535.00 price objective on shares of Mastercard in a report on Wednesday, April 3rd. TD Cowen started coverage on Mastercard in a research note on Thursday, April 11th. They issued a “buy” rating and a $545.00 target price for the company. Mizuho dropped their price target on Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays cut their price target on Mastercard from $549.00 to $530.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $501.23.

Mastercard Stock Performance

NYSE MA traded up $15.96 during trading hours on Wednesday, reaching $463.41. 4,312,321 shares of the company were exchanged, compared to its average volume of 2,500,580. The stock has a market capitalization of $430.79 billion, a P/E ratio of 36.84, a P/E/G ratio of 1.74 and a beta of 1.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $490.00. The business’s 50 day simple moving average is $446.04 and its 200-day simple moving average is $456.36.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. Mastercard’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts expect that Mastercard Incorporated will post 14.25 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be paid a $0.66 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.57%. Mastercard’s payout ratio is presently 20.99%.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.