Congress Asset Management Co. MA Cuts Position in Mastercard Incorporated (NYSE:MA)

Congress Asset Management Co. MA trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,550 shares of the credit services provider’s stock after selling 182 shares during the period. Congress Asset Management Co. MA’s holdings in Mastercard were worth $17,120,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management raised its holdings in Mastercard by 87.4% in the fourth quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock worth $229,000 after buying an additional 250 shares during the last quarter. Cross Staff Investments Inc increased its holdings in shares of Mastercard by 16.3% in the 4th quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock worth $1,343,000 after purchasing an additional 441 shares in the last quarter. Everett Harris & Co. CA raised its stake in shares of Mastercard by 0.5% in the fourth quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock worth $21,129,000 after purchasing an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Mastercard by 23.9% during the fourth quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock valued at $5,171,000 after purchasing an additional 2,337 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its position in shares of Mastercard by 7.2% during the fourth quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock valued at $209,000 after buying an additional 33 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Up 0.5 %

Shares of MA opened at $454.85 on Friday. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $422.83 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. The business’s 50 day moving average is $452.30 and its 200 day moving average is $451.87.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping the consensus estimate of $3.22 by $0.09. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 earnings per share. Research analysts expect that Mastercard Incorporated will post 14.22 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, July 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.58%. Mastercard’s payout ratio is 20.99%.

Insider Transactions at Mastercard

In related news, major shareholder Foundation Mastercard sold 111,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $457.15, for a total transaction of $50,743,650.00. Following the completion of the transaction, the insider now directly owns 97,432,308 shares of the company’s stock, valued at $44,541,179,602.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other Mastercard news, insider Craig Vosburg sold 9,028 shares of Mastercard stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total value of $4,038,043.84. Following the completion of the transaction, the insider now directly owns 58,940 shares of the company’s stock, valued at approximately $26,362,683.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 111,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $457.15, for a total transaction of $50,743,650.00. Following the sale, the insider now owns 97,432,308 shares in the company, valued at $44,541,179,602.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,774,200 shares of company stock valued at $1,251,670,450. 0.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MA shares. Susquehanna reissued a “positive” rating and issued a $535.00 target price on shares of Mastercard in a research report on Wednesday, April 3rd. Mizuho dropped their target price on shares of Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Piper Sandler assumed coverage on Mastercard in a report on Monday, May 13th. They issued an “overweight” rating and a $531.00 price objective for the company. Morgan Stanley cut their price target on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, TD Cowen initiated coverage on shares of Mastercard in a research note on Thursday, April 11th. They issued a “buy” rating and a $545.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and an average target price of $497.78.

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.