Mastercard Incorporated $MA Shares Sold by Cannon Advisors Inc.

Cannon Advisors Inc. decreased its holdings in Mastercard Incorporated (NYSE:MA) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,051 shares of the credit services provider’s stock after selling 151 shares during the quarter. Mastercard accounts for approximately 2.3% of Cannon Advisors Inc.’s holdings, making the stock its 17th largest position. Cannon Advisors Inc.’s holdings in Mastercard were worth $2,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MA. LGT Financial Advisors LLC acquired a new position in Mastercard during the 2nd quarter valued at about $25,000. Family Legacy Financial Solutions LLC bought a new position in shares of Mastercard in the second quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard during the first quarter valued at approximately $27,000. Keystone Global Partners LLC bought a new stake in Mastercard during the first quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. acquired a new stake in Mastercard in the second quarter worth approximately $31,000. 97.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction on 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 sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,330,922.26. The trade was a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Mastercard Price Performance

NYSE MA opened at $545.31 on Friday. 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 Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a market cap of $489.68 billion, a PE ratio of 36.77, a PEG ratio of 2.27 and a beta of 0.92. The stock’s 50-day moving average price is $568.49 and its two-hundred day moving average price is $569.93.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, topping the consensus estimate of $4.31 by $0.07. The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the company posted $3.89 earnings per share. On average, analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, October 9th. Mastercard’s payout ratio is presently 19.44%.

Wall Street Analyst Weigh In

MA has been the topic of several research analyst reports. Citigroup upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Compass Point set a $620.00 target price on Mastercard and gave the stock a “neutral” rating in a report on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Mastercard in a research report on Friday, October 31st. TD Cowen restated a “buy” rating and set a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Finally, KeyCorp reiterated an “overweight” rating and issued a $665.00 target price on shares of Mastercard in a report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $652.50.

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.