MidWestOne Financial Group Inc. Raises Stock Holdings in Mastercard Incorporated (NYSE:MA)

MidWestOne Financial Group Inc. increased its position in Mastercard Incorporated (NYSE:MA) by 1.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,167 shares of the credit services provider’s stock after purchasing an additional 36 shares during the period. MidWestOne Financial Group Inc.’s holdings in Mastercard were worth $956,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Kathmere Capital Management LLC purchased a new position in shares of Mastercard in the second quarter worth $665,000. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Mastercard by 4.1% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 18,432 shares of the credit services provider’s stock worth $8,132,000 after buying an additional 730 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in shares of Mastercard by 6.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 2,979 shares of the credit services provider’s stock worth $1,314,000 after buying an additional 186 shares during the period. Ninepoint Partners LP increased its stake in shares of Mastercard by 7.3% in the second quarter. Ninepoint Partners LP now owns 3,290 shares of the credit services provider’s stock worth $1,451,000 after buying an additional 224 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of Mastercard by 1,211.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 79,970 shares of the credit services provider’s stock worth $35,280,000 after buying an additional 73,870 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 109,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. BNP Paribas cut shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a report on Tuesday, September 3rd. KeyCorp lifted their price target on shares of Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $513.70.

Mastercard Stock Performance

Shares of Mastercard stock opened at $493.64 on Friday. The stock has a market cap of $458.90 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 1.96 and a beta of 1.10. The firm’s 50-day moving average is $470.79 and its 200 day moving average is $461.86. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $501.80. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. Sell-side analysts anticipate that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Announces Dividend

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 $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 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.