Parnassus Investments CA Lowers Holdings in Mastercard Inc (MA)
Parnassus Investments CA lowered its position in shares of Mastercard Inc (NYSE:MA) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 3,119,207 shares of the credit services provider’s stock after selling 81,981 shares during the quarter. Mastercard comprises about 2.4% of Parnassus Investments CA’s portfolio, making the stock its 13th largest holding. Parnassus Investments CA’s holdings in Mastercard were worth $612,987,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its stake in shares of Mastercard by 8.8% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 3,213 shares of the credit services provider’s stock valued at $631,000 after buying an additional 259 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Mastercard by 1.9% during the 2nd quarter. Raymond James Trust N.A. now owns 14,154 shares of the credit services provider’s stock valued at $2,782,000 after buying an additional 268 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Mastercard by 10.3% during the 1st quarter. Cetera Advisors LLC now owns 2,916 shares of the credit services provider’s stock valued at $510,000 after buying an additional 272 shares during the last quarter. Sather Financial Group Inc raised its stake in shares of Mastercard by 0.4% during the 1st quarter. Sather Financial Group Inc now owns 61,189 shares of the credit services provider’s stock valued at $10,718,000 after buying an additional 272 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in shares of Mastercard by 0.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 87,253 shares of the credit services provider’s stock valued at $17,147,000 after buying an additional 281 shares during the last quarter. 75.06% of the stock is owned by institutional investors.
In other Mastercard news, CFO Martina Hundmejean sold 69,817 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $200.35, for a total transaction of $13,987,835.95. Following the completion of the sale, the chief financial officer now directly owns 128,905 shares in the company, valued at approximately $25,826,116.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.32% of the stock is currently owned by insiders.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 26th. The credit services provider reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.13. Mastercard had a return on equity of 103.82% and a net margin of 33.81%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the business earned $1.10 EPS. Mastercard’s quarterly revenue was up 20.0% on a year-over-year basis. equities research analysts forecast that Mastercard Inc will post 6.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 9th. Shareholders of record on Monday, July 9th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 6th. This represents a $1.00 annualized dividend and a yield of 0.49%. Mastercard’s dividend payout ratio (DPR) is currently 21.83%.
A number of equities analysts have weighed in on the company. Raymond James assumed coverage on Mastercard in a research note on Tuesday, July 24th. They set an “outperform” rating and a $244.00 price objective for the company. Wells Fargo & Co lifted their price objective on Mastercard from $211.00 to $227.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. KeyCorp reiterated an “overweight” rating and set a $230.00 price objective (up previously from $200.00) on shares of Mastercard in a research note on Thursday, July 26th. Loop Capital lifted their price objective on Mastercard to $232.00 and gave the company a “buy” rating in a research note on Friday, July 27th. They noted that the move was a valuation call. Finally, Sandler O’Neill reiterated a “hold” rating and set a $209.00 price objective on shares of Mastercard in a research note on Friday, July 27th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $202.70.
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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