Eqis Capital Management Inc. grew its position in shares of Mastercard Incorporated (NYSE:MA) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,286 shares of the credit services provider’s stock after purchasing an additional 1,008 shares during the period. Mastercard makes up 0.6% of Eqis Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Eqis Capital Management Inc.’s holdings in Mastercard were worth $7,406,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Capital International Investors lifted its position in Mastercard by 22.6% in the 1st quarter. Capital International Investors now owns 12,027,838 shares of the credit services provider’s stock worth $4,282,516,000 after buying an additional 2,218,827 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Mastercard by 46.0% during the 1st quarter. Magellan Asset Management Ltd now owns 5,869,782 shares of the credit services provider’s stock valued at $2,089,936,000 after purchasing an additional 1,850,331 shares during the last quarter. Morgan Stanley raised its position in Mastercard by 8.2% in the 1st quarter. Morgan Stanley now owns 18,519,943 shares of the credit services provider’s stock worth $6,594,026,000 after purchasing an additional 1,401,668 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Mastercard by 19.2% during the first quarter. Nuveen Asset Management LLC now owns 6,877,284 shares of the credit services provider’s stock valued at $2,448,657,000 after buying an additional 1,109,951 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Mastercard by 38.6% in the second quarter. Deutsche Bank AG now owns 3,492,110 shares of the credit services provider’s stock worth $1,274,934,000 after buying an additional 972,628 shares during the period. Institutional investors own 73.97% of the company’s stock.
Several brokerages have commented on MA. Barclays raised their price objective on shares of Mastercard from $452.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. UBS Group upped their price target on Mastercard from $400.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Mizuho upped their price objective on shares of Mastercard from $435.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Mastercard from $427.00 to $430.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. Finally, Wells Fargo & Company increased their target price on Mastercard from $430.00 to $440.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $418.48.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 29th. The credit services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.23. Mastercard had a net margin of 43.22% and a return on equity of 109.48%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.35 billion. Sell-side analysts expect that Mastercard Incorporated will post 8.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 9th. Stockholders of record on Friday, October 8th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, October 7th. Mastercard’s dividend payout ratio (DPR) is presently 27.37%.
In other news, CFO J. Mehra Sachin sold 7,838 shares of the company’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $385.42, for a total value of $3,020,921.96. Following the sale, the chief financial officer now directly owns 20,320 shares of the company’s stock, valued at approximately $7,831,734.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ajay Banga sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $390.34, for a total value of $23,420,400.00. The disclosure for this sale can be found here. Insiders sold 875,977 shares of company stock valued at $330,025,910 in the last quarter. 0.33% of the stock is owned by company insiders.
Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.
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