NorthCoast Asset Management LLC Sells 6,237 Shares of Mastercard Incorporated (NYSE:MA)

NorthCoast Asset Management LLC lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 8.5% during the first quarter, Holdings Channel reports. The fund owned 66,869 shares of the credit services provider’s stock after selling 6,237 shares during the period. Mastercard makes up approximately 1.0% of NorthCoast Asset Management LLC’s holdings, making the stock its 28th biggest holding. NorthCoast Asset Management LLC’s holdings in Mastercard were worth $23,836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Veracity Capital LLC grew its holdings in Mastercard by 1.1% during the 1st quarter. Veracity Capital LLC now owns 2,658 shares of the credit services provider’s stock worth $947,000 after acquiring an additional 28 shares during the last quarter. Washington Trust Bank increased its holdings in Mastercard by 0.3% in the first quarter. Washington Trust Bank now owns 9,936 shares of the credit services provider’s stock valued at $3,537,000 after purchasing an additional 28 shares during the period. Boenning & Scattergood Inc. raised its position in Mastercard by 1.1% during the 1st quarter. Boenning & Scattergood Inc. now owns 2,501 shares of the credit services provider’s stock worth $890,000 after purchasing an additional 28 shares during the last quarter. Arbor Wealth Management LLC lifted its holdings in Mastercard by 0.3% during the 1st quarter. Arbor Wealth Management LLC now owns 9,430 shares of the credit services provider’s stock worth $3,358,000 after buying an additional 29 shares during the period. Finally, KFA Private Wealth Group LLC grew its position in shares of Mastercard by 5.1% in the 1st quarter. KFA Private Wealth Group LLC now owns 600 shares of the credit services provider’s stock valued at $214,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 73.87% of the company’s stock.

MA stock traded down $0.62 during mid-day trading on Thursday, reaching $379.44. 41,042 shares of the company traded hands, compared to its average volume of 3,295,335. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.06. The company has a 50 day simple moving average of $369.70. The firm has a market cap of $376.04 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 2.18 and a beta of 1.18. Mastercard Incorporated has a fifty-two week low of $281.20 and a fifty-two week high of $401.50.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, April 29th. The credit services provider reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.19. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Mastercard had a return on equity of 100.68% and a net margin of 42.38%. Mastercard’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 earnings per share. On average, equities analysts predict that Mastercard Incorporated will post 7.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 9th. Stockholders of record on Friday, July 9th will be paid a $0.44 dividend. The ex-dividend date is Thursday, July 8th. This represents a $1.76 annualized dividend and a dividend yield of 0.46%. Mastercard’s payout ratio is 27.37%.

Several analysts recently commented on the company. Daiwa Capital Markets upgraded Mastercard from a “neutral” rating to an “outperform” rating and set a $402.00 target price on the stock in a report on Tuesday, May 18th. Barclays increased their price objective on shares of Mastercard from $440.00 to $452.00 and gave the stock an “overweight” rating in a research report on Monday, June 7th. Mizuho boosted their target price on shares of Mastercard from $430.00 to $435.00 and gave the company a “buy” rating in a report on Friday, April 30th. Macquarie increased their price target on Mastercard from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Friday, April 30th. Finally, Jefferies Financial Group boosted their price objective on Mastercard from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $398.38.

In other news, major shareholder Foundation Mastercard sold 78,973 shares of the company’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $377.75, for a total value of $29,832,050.75. Following the completion of the transaction, the insider now directly owns 107,902,874 shares of the company’s stock, valued at $40,760,310,653.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ajay Banga sold 60,000 shares of the stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $390.34, for a total value of $23,420,400.00. The disclosure for this sale can be found here. Insiders have sold 249,584 shares of company stock worth $94,566,929 over the last three months. 0.33% of the stock is 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. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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