Mackenzie Financial Corp Decreases Stock Position in Mastercard Incorporated (NYSE:MA)

Mackenzie Financial Corp lowered its stake in Mastercard Incorporated (NYSE:MA) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,478 shares of the credit services provider’s stock after selling 2,203 shares during the period. Mackenzie Financial Corp’s holdings in Mastercard were worth $120,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MBB Public Markets I LLC lifted its stake in Mastercard by 3,414.9% in the second quarter. MBB Public Markets I LLC now owns 59,226 shares of the credit services provider’s stock worth $26,128,000 after acquiring an additional 57,541 shares during the last quarter. Daymark Wealth Partners LLC raised its holdings in shares of Mastercard by 35.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 7,794 shares of the credit services provider’s stock valued at $3,438,000 after purchasing an additional 2,052 shares in the last quarter. Decatur Capital Management Inc. lifted its position in shares of Mastercard by 2.5% during the 2nd quarter. Decatur Capital Management Inc. now owns 12,171 shares of the credit services provider’s stock worth $5,369,000 after purchasing an additional 296 shares during the last quarter. Delta Investment Management LLC grew its stake in shares of Mastercard by 5.9% during the second quarter. Delta Investment Management LLC now owns 2,626 shares of the credit services provider’s stock worth $1,158,000 after purchasing an additional 146 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC purchased a new position in Mastercard in the second quarter valued at $1,826,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

NYSE MA opened at $493.34 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average is $470.79 and its two-hundred day moving average is $461.94. The stock has a market capitalization of $458.62 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 1.96 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Research analysts expect that Mastercard Incorporated will post 14.29 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the transaction, the insider now directly owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. The sale was disclosed in a filing with the SEC, which is available at this link. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at approximately $8,440,885.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 119,000 shares of Mastercard stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 340,809 shares of company stock valued at $159,610,703. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the subject of a number of recent analyst reports. Bank of America lifted their price target on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Citigroup upped their price target on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler raised their price objective on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $513.70.

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.