Manitou Investment Management Ltd. boosted its holdings in shares of Mastercard Incorporated (NYSE:MA – Get Rating) by 109.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,757 shares of the credit services provider’s stock after purchasing an additional 41,228 shares during the period. Mastercard makes up approximately 4.3% of Manitou Investment Management Ltd.’s holdings, making the stock its 9th biggest position. Manitou Investment Management Ltd.’s holdings in Mastercard were worth $28,146,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MA. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Mastercard in the 4th quarter worth approximately $37,000. Western Pacific Wealth Management LP acquired a new position in shares of Mastercard during the 4th quarter worth $39,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Mastercard during the 4th quarter worth $42,000. American National Bank acquired a new position in shares of Mastercard during the 1st quarter worth $46,000. Finally, Tortoise Investment Management LLC increased its stake in shares of Mastercard by 71.4% during the 4th quarter. Tortoise Investment Management LLC now owns 132 shares of the credit services provider’s stock worth $47,000 after purchasing an additional 55 shares during the last quarter. 74.94% of the stock is owned by institutional investors and hedge funds.
NYSE:MA opened at $316.15 on Thursday. The company has a 50-day moving average of $344.96 and a 200-day moving average of $353.06. The company has a market capitalization of $307.50 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.49 and a beta of 1.01. Mastercard Incorporated has a 52 week low of $303.65 and a 52 week high of $399.92. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.34 and a current ratio of 1.34.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Shareholders of record on Friday, July 8th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, July 7th. Mastercard’s payout ratio is presently 20.40%.
MA has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of Mastercard from $430.00 to $420.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Morgan Stanley lowered their target price on shares of Mastercard from $449.00 to $442.00 and set an “overweight” rating on the stock in a research note on Thursday, April 21st. BMO Capital Markets lowered their target price on shares of Mastercard from $412.00 to $402.00 in a research note on Friday, April 29th. Citigroup lowered their target price on shares of Mastercard from $445.00 to $435.00 in a research note on Monday, April 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Mastercard from $420.00 to $440.00 in a research note on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $422.94.
In other news, insider Raj Seshadri sold 7,000 shares of Mastercard stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $367.68, for a total transaction of $2,573,760.00. Following the completion of the sale, the insider now owns 10,439 shares in the company, valued at approximately $3,838,211.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 106,330 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $333.03, for a total transaction of $35,411,079.90. Following the transaction, the insider now owns 103,629,316 shares of the company’s stock, valued at approximately $34,511,671,107.48. The disclosure for this sale can be found here. Insiders sold a total of 327,543 shares of company stock valued at $108,482,025 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.
About Mastercard (Get Rating)
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.
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