Horizon Bancorp Inc. IN Has $479,000 Stake in Mastercard Incorporated $MA

Horizon Bancorp Inc. IN lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 7.4% during the second quarter, Holdings Channel.com reports. The firm owned 852 shares of the credit services provider’s stock after selling 68 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Mastercard were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new position in Mastercard during the 2nd quarter worth $26,000. Flaharty Asset Management LLC bought a new position in Mastercard during the 1st quarter worth $27,000. Keystone Global Partners LLC bought a new position in Mastercard during the 1st quarter worth $31,000. Hughes Financial Services LLC bought a new position in Mastercard during the 1st quarter worth $34,000. Finally, 1 North Wealth Services LLC bought a new position in Mastercard during the 1st quarter worth $44,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA stock opened at $563.77 on Friday. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The firm has a market cap of $509.65 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The stock has a 50-day moving average price of $581.06 and a 200-day moving average price of $562.68. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the business earned $3.50 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is 20.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MA shares. KeyCorp raised their price objective on Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Truist Financial decreased their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Robert W. Baird lifted their price target on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley lifted their price target on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $634.04.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Mastercard 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.