Cullen Investment Group LTD. Sells 64 Shares of Mastercard Incorporated (NYSE:MA)

Cullen Investment Group LTD. trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.7% during the third quarter, HoldingsChannel.com reports. The firm owned 8,623 shares of the credit services provider’s stock after selling 64 shares during the quarter. Cullen Investment Group LTD.’s holdings in Mastercard were worth $4,258,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in MA. Great Waters Wealth Management purchased a new stake in shares of Mastercard in the 3rd quarter valued at about $203,000. Goelzer Investment Management Inc. raised its stake in Mastercard by 0.3% in the third quarter. Goelzer Investment Management Inc. now owns 8,316 shares of the credit services provider’s stock valued at $4,106,000 after purchasing an additional 29 shares in the last quarter. jvl associates llc lifted its position in Mastercard by 2.4% during the third quarter. jvl associates llc now owns 1,475 shares of the credit services provider’s stock valued at $728,000 after purchasing an additional 35 shares during the last quarter. Abacus Wealth Partners LLC purchased a new position in Mastercard in the 3rd quarter worth approximately $208,000. Finally, Unique Wealth LLC increased its holdings in shares of Mastercard by 18.6% in the 3rd quarter. Unique Wealth LLC now owns 3,406 shares of the credit services provider’s stock worth $1,682,000 after buying an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

MA has been the subject of several research reports. Argus upgraded shares of Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Evercore ISI cut their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. TD Cowen raised their price objective on Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler upped their target price on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Oppenheimer started coverage on shares of Mastercard in a research note on Tuesday. They set an “outperform” rating and a $591.00 price target on the stock. Five equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.22.

Mastercard Stock Up 0.6 %

MA traded up $2.73 during midday trading on Friday, reaching $497.70. The company’s stock had a trading volume of 1,935,893 shares, compared to its average volume of 2,457,305. The stock’s 50-day moving average is $476.54 and its 200-day moving average is $462.60. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $501.80. The firm has a market capitalization of $462.67 billion, a price-to-earnings ratio of 39.56, a PEG ratio of 1.96 and a beta of 1.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating 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 company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. As a group, research analysts expect that Mastercard Incorporated will post 14.29 EPS for the current year.

Mastercard Announces Dividend

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

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the transaction, the insider now directly owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,809 shares of company stock valued at $159,610,703. Insiders own 0.10% of the company’s stock.

Mastercard Company Profile

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.