Convergence Investment Partners LLC Lowers Stock Position in Mastercard Incorporated $MA

by · The Cerbat Gem

Convergence Investment Partners LLC reduced its stake in Mastercard Incorporated (NYSE:MA – Free Report) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 930 shares of the credit services provider’s stock after selling 65 shares during the quarter. Convergence Investment Partners LLC’s holdings in Mastercard were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. ORG Partners LLC grew its holdings in shares of Mastercard by 73.2% in the second quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 295 shares during the last quarter. Ethos Financial Group LLC raised its position in shares of Mastercard by 19.5% in the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider’s stock worth $1,683,000 after purchasing an additional 518 shares during the last quarter. Curio Wealth LLC raised its position in shares of Mastercard by 22,400.0% in the 2nd quarter. Curio Wealth LLC now owns 225 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 224 shares during the last quarter. Wheelhouse Advisory Group LLC raised its position in shares of Mastercard by 4.4% in the 2nd quarter. Wheelhouse Advisory Group LLC now owns 1,336 shares of the credit services provider’s stock worth $751,000 after purchasing an additional 56 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida raised its position in Mastercard by 36.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider’s stock worth $380,000 after buying an additional 185 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company raised Mastercard to a “strong-buy” rating in a research report on Wednesday, October 22nd. Robert W. Baird boosted their target price on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Wall Street Zen raised Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. TD Cowen reaffirmed a “buy” rating and set a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price target for the company. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $638.96.

View Our Latest Research Report on MA

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Mastercard Price Performance

NYSE MA opened at $571.51 on Tuesday. The company has a 50-day moving average price of $579.25 and a 200-day moving average price of $566.75. The firm has a market capitalization of $516.65 billion, a P/E ratio of 38.54, a PEG ratio of 2.35 and a beta of 0.97. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA – Get Free Report) last released its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 EPS. Equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is currently 20.50%.

Mastercard Profile

(Free Report)

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.

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