Oppenheimer Asset Management Inc. Buys Shares of 89,412 Mastercard Incorporated (MA)
Oppenheimer Asset Management Inc. bought a new position in shares of Mastercard Incorporated (NYSE:MA) during the first quarter, Holdings Channel reports. The fund bought 89,412 shares of the credit services provider’s stock, valued at approximately $10,055,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MA. Pennsylvania Trust Co boosted its position in Mastercard by 1.6% in the first quarter. Pennsylvania Trust Co now owns 20,733 shares of the credit services provider’s stock worth $2,332,000 after buying an additional 335 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its position in Mastercard by 1.2% in the first quarter. Cookson Peirce & Co. Inc. now owns 13,441 shares of the credit services provider’s stock worth $1,512,000 after buying an additional 160 shares during the last quarter. Adviser Investments LLC purchased a new position in Mastercard during the first quarter worth approximately $727,000. Linscomb & Williams Inc. boosted its position in Mastercard by 5.7% in the first quarter. Linscomb & Williams Inc. now owns 11,223 shares of the credit services provider’s stock worth $1,262,000 after buying an additional 603 shares during the last quarter. Finally, Tompkins Financial Corp boosted its position in Mastercard by 9.7% in the first quarter. Tompkins Financial Corp now owns 10,703 shares of the credit services provider’s stock worth $1,011,000 after buying an additional 949 shares during the last quarter. Institutional investors own 75.76% of the company’s stock.
Mastercard Incorporated (NYSE MA) traded up 1.30% during mid-day trading on Friday, hitting $129.33. The company’s stock had a trading volume of 738,793 shares. Mastercard Incorporated has a 12-month low of $94.41 and a 12-month high of $132.20. The company has a market cap of $137.72 billion, a P/E ratio of 32.09 and a beta of 1.17. The firm’s 50-day moving average is $126.44 and its 200-day moving average is $117.36.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Analysts predict that Mastercard Incorporated will post $4.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Wednesday, July 5th. Mastercard’s dividend payout ratio is currently 21.78%.
A number of research analysts have recently commented on MA shares. BidaskClub cut Mastercard from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Mastercard from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. Deutsche Bank AG restated a “buy” rating and issued a $150.00 target price (up previously from $124.00) on shares of Mastercard in a research note on Monday, July 10th. Credit Suisse Group restated a “buy” rating and issued a $125.00 target price on shares of Mastercard in a research note on Friday, July 7th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $147.00 target price (up previously from $140.00) on shares of Mastercard in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $128.20.
In other Mastercard news, CFO Martina Hundmejean sold 91,107 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the sale, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at approximately $22,138,280.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 87,618 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $127.98, for a total value of $11,213,351.64. Following the sale, the insider now directly owns 112,649,063 shares in the company, valued at $14,416,827,082.74. The disclosure for this sale can be found here. Insiders have sold a total of 850,468 shares of company stock worth $109,574,694 over the last ninety days. 0.30% of the stock is owned by insiders.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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