Amalgamated Bank Raises Stake in Mastercard Incorporated $MA

by · The Cerbat Gem

Amalgamated Bank lifted its position in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 2.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 189,340 shares of the credit services provider’s stock after purchasing an additional 5,297 shares during the quarter. Mastercard comprises approximately 0.8% of Amalgamated Bank’s holdings, making the stock its 15th largest holding. Amalgamated Bank’s holdings in Mastercard were worth $106,398,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MA. LGT Financial Advisors LLC purchased a new stake in shares of Mastercard during the 2nd quarter worth about $25,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard during the 2nd quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in Mastercard in the 1st quarter worth approximately $27,000. Keystone Global Partners LLC purchased a new position in Mastercard in the 1st quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. purchased a new position in Mastercard in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity

In related news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following 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 is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

MA stock opened at $553.89 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market cap of $500.72 billion, a P/E ratio of 37.35, a P/E/G ratio of 2.32 and a beta of 0.97. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The stock’s 50 day simple moving average is $578.08 and its 200 day simple moving average is $567.52.

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

Mastercard Announces Dividend

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

Wall Street Analysts Forecast Growth

MA has been the subject of a number of analyst reports. KeyCorp restated an “overweight” rating and issued a $665.00 price target on shares of Mastercard in a report on Wednesday, October 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Citigroup upgraded Mastercard to a “strong-buy” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Royal Bank Of Canada increased their target price on Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $638.96.

View Our Latest Report on MA

Mastercard Company 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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