Cadence Capital Management LLC Increases Holdings in Mastercard Incorporated (MA)
Cadence Capital Management LLC raised its position in Mastercard Incorporated (NYSE:MA) by 0.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,608 shares of the credit services provider’s stock after purchasing an additional 197 shares during the period. Cadence Capital Management LLC’s holdings in Mastercard were worth $2,746,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Glassman Wealth Services raised its holdings in shares of Mastercard by 0.3% during the 1st quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock worth $199,000 after acquiring an additional 6 shares during the period. Norway Savings Bank raised its holdings in shares of Mastercard by 1.1% during the 2nd quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock worth $117,000 after acquiring an additional 10 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Mastercard by 1.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after acquiring an additional 12 shares during the period. Concert Wealth Management Inc. raised its holdings in shares of Mastercard by 0.3% during the 1st quarter. Concert Wealth Management Inc. now owns 6,467 shares of the credit services provider’s stock worth $664,000 after acquiring an additional 18 shares during the period. Finally, Berkshire Asset Management LLC PA raised its holdings in shares of Mastercard by 0.3% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock worth $783,000 after acquiring an additional 18 shares during the period. Institutional investors own 76.01% of the company’s stock.
MA has been the topic of several analyst reports. Instinet reiterated a “buy” rating and set a $163.00 price target (up previously from $153.00) on shares of Mastercard in a report on Saturday, September 9th. Deutsche Bank AG reiterated a “buy” rating and set a $150.00 price target (up previously from $124.00) on shares of Mastercard in a report on Monday, July 10th. Piper Jaffray Companies reiterated a “buy” rating and set a $161.00 price target on shares of Mastercard in a report on Friday, October 13th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $158.00 price target (up previously from $149.00) on shares of Mastercard in a report on Friday, September 8th. Finally, Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average target price of $146.81.
Mastercard Incorporated (NYSE MA) opened at 145.93 on Wednesday. Mastercard Incorporated has a 52 week low of $99.51 and a 52 week high of $148.45. The stock has a market cap of $155.40 billion, a PE ratio of 36.21 and a beta of 1.18. The stock has a 50 day moving average price of $140.23 and a 200 day moving average price of $126.67.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm earned $0.96 EPS. Mastercard’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Mastercard Incorporated will post $4.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.60%. Mastercard’s dividend payout ratio (DPR) is presently 21.78%.
In other Mastercard news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the sale, the director now owns 45,278 shares in the company, valued at approximately $6,452,567.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 87,618 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $129.46, for a total value of $11,343,026.28. Following the sale, the insider now owns 112,561,445 shares of the company’s stock, valued at approximately $14,572,204,669.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 729,438 shares of company stock valued at $94,599,309. 0.30% of the stock is owned by insiders.
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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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