Abbrea Capital LLC Boosts Stake in Mastercard Incorporated (MA)
Abbrea Capital LLC grew its holdings in Mastercard Incorporated (NYSE:MA) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,253 shares of the credit services provider’s stock after purchasing an additional 215 shares during the period. Abbrea Capital LLC’s holdings in Mastercard were worth $274,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in shares of Mastercard in the first quarter valued at approximately $100,000. Lipe & Dalton bought a new stake in Mastercard during the 1st quarter worth approximately $101,000. Chicago Partners Investment Group LLC increased its holdings in Mastercard by 1,365.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after acquiring an additional 874 shares during the period. Proficio Capital Partners LLC increased its holdings in Mastercard by 108.2% during the 1st quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 464 shares during the period. Finally, Kistler Tiffany Companies LLC increased its holdings in Mastercard by 10.9% during the 1st quarter. Kistler Tiffany Companies LLC now owns 1,019 shares of the credit services provider’s stock worth $115,000 after acquiring an additional 100 shares during the period. 76.05% of the stock is currently owned by institutional investors.
In related news, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, the director now directly owns 45,278 shares in the company, valued at $6,452,567.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the completion of the sale, the chief financial officer now owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The disclosure for this sale can be found here. Insiders sold 869,668 shares of company stock valued at $112,301,656 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.
Mastercard Incorporated (NYSE MA) opened at 143.52 on Friday. The company has a 50 day moving average of $138.07 and a 200 day moving average of $125.23. Mastercard Incorporated has a 52 week low of $99.51 and a 52 week high of $143.78. The company has a market capitalization of $152.83 billion, a price-to-earnings ratio of 35.61 and a beta of 1.18.
Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share. On average, equities analysts forecast that Mastercard Incorporated will post $4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, October 6th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.61%. Mastercard’s payout ratio is currently 21.78%.
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A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $130.00 target price on shares of Mastercard in a report on Friday, June 16th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $150.00 target price (up previously from $143.00) on shares of Mastercard in a report on Friday, September 8th. Oppenheimer Holdings, Inc. upped their target price on shares of Mastercard and gave the stock an “outperform” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Mastercard currently has a consensus rating of “Buy” and a consensus price target of $143.08.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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