TD Asset Management Inc. Sells 6,689 Shares of Mastercard Incorporated (MA)
TD Asset Management Inc. trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 831,553 shares of the credit services provider’s stock after selling 6,689 shares during the quarter. TD Asset Management Inc. owned approximately 0.08% of Mastercard worth $100,992,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Northstar Wealth Partners LLC grew its holdings in shares of Mastercard by 40.1% during the second quarter. Northstar Wealth Partners LLC now owns 3,549 shares of the credit services provider’s stock worth $435,000 after buying an additional 1,015 shares during the last quarter. Physicians Financial Services Inc. increased its position in Mastercard by 4.8% in the 2nd quarter. Physicians Financial Services Inc. now owns 15,443 shares of the credit services provider’s stock valued at $1,876,000 after acquiring an additional 713 shares during the period. Davis R M Inc. raised its stake in Mastercard by 25.2% during the 2nd quarter. Davis R M Inc. now owns 2,788 shares of the credit services provider’s stock valued at $339,000 after acquiring an additional 561 shares during the last quarter. Hodges Capital Management Inc. raised its stake in Mastercard by 4.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,105 shares of the credit services provider’s stock valued at $256,000 after acquiring an additional 80 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in Mastercard by 1.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 197,829 shares of the credit services provider’s stock valued at $24,026,000 after acquiring an additional 3,175 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $147.00 price objective (up from $140.00) on shares of Mastercard in a research report on Tuesday, July 18th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Wednesday, July 5th. Citigroup Inc. boosted their target price on Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a report on Monday, June 19th. BidaskClub cut Mastercard from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, Deutsche Bank AG restated a “buy” rating and set a $150.00 price target (up previously from $124.00) on shares of Mastercard in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $143.08.
Mastercard Incorporated (NYSE:MA) opened at 141.82 on Tuesday. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $143.59. The company’s 50 day moving average price is $136.74 and its 200 day moving average price is $124.53. The firm has a market capitalization of $151.02 billion, a P/E ratio of 35.19 and a beta of 1.18.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. Analysts anticipate that Mastercard Incorporated will post $4.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, October 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, October 5th. Mastercard’s dividend payout ratio is presently 21.78%.
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In related news, major shareholder Foundation Mastercard sold 87,618 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $126.60, for a total value of $11,092,438.80. Following the completion of the transaction, the insider now owns 112,736,681 shares in the company, valued at approximately $14,272,463,814.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Vosburg sold 14,200 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the transaction, the insider now owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 864,668 shares of company stock valued at $111,589,106. Company insiders own 0.30% of the company’s stock.
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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