Legacy Trust Cuts Stock Holdings in Mastercard Incorporated $MA

Legacy Trust lowered its stake in Mastercard Incorporated (NYSE:MA) by 3.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,305 shares of the credit services provider’s stock after selling 40 shares during the quarter. Legacy Trust’s holdings in Mastercard were worth $733,000 as of its most recent filing with the SEC.

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

Mastercard Stock Up 0.6%

NYSE MA opened at $581.08 on Friday. The business’s fifty day simple moving average is $580.26 and its 200-day simple moving average is $561.85. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market cap of $525.30 billion, a PE ratio of 39.18, a P/E/G ratio of 2.38 and a beta of 0.97.

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

Mastercard Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on MA. Wall Street Zen cut shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mastercard in a research note on Saturday, September 27th. Truist Financial lowered their target price on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research note on Thursday, July 17th. They set a “buy” rating and a $650.00 target price on the stock. Finally, Wolfe Research set a $655.00 target price on shares of Mastercard in a research note on Monday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Mastercard currently has an average rating of “Buy” and a consensus price target of $630.89.

Insider Transactions at Mastercard

In other Mastercard news, Director Julius Genachowski sold 312 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,391 shares of company stock worth $20,836,514 in the last ninety days. 0.09% of the stock is currently owned by corporate insiders.

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.