Mountain Pacific Investment Advisers Inc. ID Takes Position in Mastercard Inc (NYSE:MA)
Mountain Pacific Investment Advisers Inc. ID purchased a new stake in shares of Mastercard Inc (NYSE:MA) in the 2nd quarter, Holdings Channel reports. The fund purchased 806 shares of the credit services provider’s stock, valued at approximately $238,000.
A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Mastercard during the fourth quarter valued at approximately $2,754,179,000. Fisher Asset Management LLC boosted its stake in shares of Mastercard by 637.9% in the first quarter. Fisher Asset Management LLC now owns 3,560,005 shares of the credit services provider’s stock worth $859,955,000 after acquiring an additional 3,077,542 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in shares of Mastercard in the first quarter worth approximately $549,597,000. Advisor Group Holdings Inc. acquired a new stake in shares of Mastercard in the first quarter worth approximately $53,522,000. Finally, Capital International Investors boosted its stake in shares of Mastercard by 44.2% in the first quarter. Capital International Investors now owns 3,431,966 shares of the credit services provider’s stock worth $829,028,000 after acquiring an additional 1,052,440 shares during the last quarter. 73.95% of the stock is currently owned by institutional investors.
NYSE:MA opened at $294.59 on Friday. The firm has a market cap of $301.27 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.08. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.30. The company’s 50-day moving average is $300.51 and its two-hundred day moving average is $291.31. Mastercard Inc has a 12-month low of $199.99 and a 12-month high of $347.25.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 9th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Mastercard’s payout ratio is currently 20.59%.
MA has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Mastercard from a “buy” rating to a “hold” rating and reduced their target price for the company from $290.00 to $275.00 in a research report on Wednesday, April 15th. Nomura reiterated a “buy” rating and issued a $334.00 price objective on shares of Mastercard in a report on Thursday, April 30th. Raymond James upped their price target on Mastercard from $288.00 to $301.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Robert W. Baird upped their price target on Mastercard from $270.00 to $308.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, Piper Sandler cut their price target on Mastercard from $332.00 to $292.00 in a report on Thursday, March 12th. Five investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $326.43.
In related news, Director Steven J. Freiberg sold 4,230 shares of Mastercard stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $303.98, for a total transaction of $1,285,835.40. Following the transaction, the director now owns 5,376 shares in the company, valued at approximately $1,634,196.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julius Genachowski sold 2,009 shares of Mastercard stock in a transaction on Monday, May 11th. The shares were sold at an average price of $281.79, for a total transaction of $566,116.11. Following the transaction, the director now owns 7,346 shares in the company, valued at approximately $2,070,029.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 527,044 shares of company stock worth $158,686,565. Insiders own 3.79% of the company’s stock.
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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