Mastercard Incorporated (NYSE:MA) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. decreased its position in shares of Mastercard Incorporated (NYSE:MA) by 86.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,159 shares of the credit services provider’s stock after selling 44,293 shares during the period. Coronation Fund Managers Ltd.’s holdings in Mastercard were worth $3,158,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brown Financial Advisors purchased a new stake in Mastercard in the 2nd quarter valued at about $673,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mastercard in the second quarter valued at approximately $34,000. SRN Advisors LLC increased its position in Mastercard by 12.7% during the second quarter. SRN Advisors LLC now owns 7,578 shares of the credit services provider’s stock worth $3,343,000 after purchasing an additional 852 shares during the last quarter. Sycomore Asset Management raised its stake in Mastercard by 142.7% during the second quarter. Sycomore Asset Management now owns 15,859 shares of the credit services provider’s stock worth $7,174,000 after purchasing an additional 9,324 shares during the period. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in shares of Mastercard in the 2nd quarter valued at $397,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MA. Barclays upped their price objective on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. William Blair upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their target price on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Cowen lifted their price target on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price objective for the company. in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $517.22.

Mastercard Stock Performance

Shares of MA opened at $495.67 on Thursday. The firm has a market cap of $460.78 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 1.96 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average is $474.05 and its two-hundred day moving average is $462.24. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $501.80.

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

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Buying and Selling at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the 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 sale, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The shares were 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 $12,423,320. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 over the last quarter. 0.10% of the stock is owned by corporate insiders.

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.