Raymond James Trust N.A. boosted its stake in Mastercard Incorporated (NYSE:MA – Get Rating) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,591 shares of the credit services provider’s stock after buying an additional 129 shares during the quarter. Raymond James Trust N.A.’s holdings in Mastercard were worth $4,919,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Mastercard by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 76,021,301 shares of the credit services provider’s stock worth $27,168,493,000 after buying an additional 5,868,493 shares during the last quarter. State Street Corp boosted its stake in shares of Mastercard by 4.4% in the fourth quarter. State Street Corp now owns 35,528,530 shares of the credit services provider’s stock worth $12,766,111,000 after acquiring an additional 1,511,927 shares during the period. Capital International Investors boosted its stake in Mastercard by 9.7% during the first quarter. Capital International Investors now owns 16,219,816 shares of the credit services provider’s stock valued at $5,796,675,000 after buying an additional 1,430,200 shares during the last quarter. Wellington Management Group LLP raised its position in Mastercard by 47.5% during the first quarter. Wellington Management Group LLP now owns 15,686,480 shares of the credit services provider’s stock valued at $5,606,033,000 after purchasing an additional 5,053,394 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Mastercard by 3.4% in the first quarter. Capital Research Global Investors now owns 14,080,614 shares of the credit services provider’s stock worth $5,032,182,000 after buying an additional 468,198 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on MA shares. Mizuho raised their price objective on Mastercard from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Robert W. Baird reduced their price target on shares of Mastercard from $470.00 to $416.00 in a research report on Wednesday, July 20th. JPMorgan Chase & Co. lowered their target price on shares of Mastercard from $430.00 to $425.00 in a research note on Wednesday, July 20th. Wolfe Research decreased their target price on shares of Mastercard from $465.00 to $415.00 in a research note on Wednesday, July 20th. Finally, Tigress Financial reiterated a “buy” rating and issued a $472.00 price target on shares of Mastercard in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and an average price target of $414.09.
Mastercard Price Performance
Mastercard (NYSE:MA – Get Rating) last posted its earnings results on Thursday, July 28th. The credit services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Mastercard had a net margin of 46.49% and a return on equity of 143.35%. Mastercard’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 EPS. Research analysts predict that Mastercard Incorporated will post 10.63 earnings per share for the current year.
Mastercard Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 9th. Shareholders of record on Friday, October 7th will be issued a $0.49 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 0.66%. Mastercard’s dividend payout ratio is currently 19.86%.
Insider Transactions at Mastercard
In other Mastercard news, CFO J. Mehra Sachin sold 5,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $360.00, for a total transaction of $1,800,000.00. Following the transaction, the chief financial officer now directly owns 15,723 shares in the company, valued at approximately $5,660,280. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% 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 other payment-related products and services.
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