Mastercard Incorporated $MA Shares Sold by Morton Capital Management LLC CA

Morton Capital Management LLC CA cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 802 shares of the credit services provider’s stock after selling 18 shares during the quarter. Morton Capital Management LLC CA’s holdings in Mastercard were worth $451,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Mastercard during the second quarter worth $26,000. Flaharty Asset Management LLC purchased a new position in Mastercard in the first quarter worth $27,000. Keystone Global Partners LLC purchased a new position in Mastercard in the first quarter worth $31,000. Hughes Financial Services LLC purchased a new position in Mastercard in the first quarter worth $34,000. Finally, 1 North Wealth Services LLC purchased a new position in Mastercard in the first quarter worth $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Down 0.6%

Shares of MA stock opened at $576.40 on Thursday. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. The stock has a market cap of $521.07 billion, a P/E ratio of 38.87, a P/E/G ratio of 2.38 and a beta of 0.97. The business has a fifty day simple moving average of $581.11 and a 200-day simple moving average of $562.55. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter last year, the business posted $3.50 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is presently 20.50%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a research report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective for the company. Royal Bank Of Canada increased their price objective on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Truist Financial cut their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, KeyCorp increased their price objective on Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $634.04.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by 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.