Morris Capital Advisors LLC cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,052 shares of the credit services provider’s stock after selling 236 shares during the period. Mastercard comprises approximately 2.3% of Morris Capital Advisors LLC’s holdings, making the stock its 21st largest position. Morris Capital Advisors LLC’s holdings in Mastercard were worth $2,867,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jeppson Wealth Management LLC purchased a new position in Mastercard during the third quarter valued at approximately $25,000. JFS Wealth Advisors LLC bought a new stake in Mastercard in the fourth quarter worth approximately $25,000. TD Ameritrade Investment Management LLC bought a new stake in Mastercard in the fourth quarter worth approximately $28,000. ForthRight Wealth Management LLC bought a new stake in Mastercard in the fourth quarter worth approximately $31,000. Finally, Sittner & Nelson LLC bought a new stake in Mastercard in the fourth quarter worth approximately $31,000. 73.64% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Foundation Mastercard sold 57,198 shares of Mastercard stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $327.14, for a total value of $18,711,753.72. Following the sale, the insider now directly owns 109,068,605 shares in the company, valued at $35,680,703,439.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gilberto Caldart sold 7,528 shares of Mastercard stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $340.00, for a total transaction of $2,559,520.00. Following the completion of the sale, the insider now owns 9,100 shares in the company, valued at $3,094,000. The disclosure for this sale can be found here. Insiders have sold a total of 784,272 shares of company stock worth $260,633,643 over the last 90 days. Corporate insiders own 3.79% of the company’s stock.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 28th. The credit services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.13. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. Mastercard had a net margin of 43.13% and a return on equity of 114.80%. Mastercard’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the company posted $2.07 EPS. On average, research analysts predict that Mastercard Incorporated will post 6.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Shareholders of record on Friday, April 9th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $1.76 annualized dividend and a yield of 0.46%. Mastercard’s dividend payout ratio (DPR) is currently 22.65%.
Several research firms have commented on MA. Truist Securities boosted their target price on shares of Mastercard from $415.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 9th. Mizuho upped their price objective on shares of Mastercard from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, March 15th. Barclays upped their price objective on shares of Mastercard from $360.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, January 25th. Morgan Stanley upped their price objective on shares of Mastercard from $377.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Finally, Sanford C. Bernstein initiated coverage on shares of Mastercard in a report on Wednesday, January 27th. They set an “outperform” rating and a $380.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $368.37.
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 related products and services.
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