Mastercard Incorporated $MA Shares Sold by Pinnacle Associates Ltd.

by · The Cerbat Gem

Pinnacle Associates Ltd. decreased its position in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,857 shares of the credit services provider’s stock after selling 496 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Mastercard were worth $22,959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new position in Mastercard during the second quarter valued at approximately $11,421,213,000. Nuveen LLC purchased a new position in Mastercard during the first quarter valued at approximately $4,238,764,000. Wellington Management Group LLP raised its position in Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after acquiring an additional 3,765,378 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Mastercard by 3,493.6% during the second quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock valued at $524,914,000 after acquiring an additional 908,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Mastercard by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after acquiring an additional 907,184 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Down 0.1%

Mastercard stock opened at $554.26 on Friday. The stock has a market capitalization of $501.05 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 2.27 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 business has a 50 day simple moving average of $577.34 and a 200-day simple moving average of $567.43. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

Mastercard (NYSE:MA – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, topping the consensus estimate of $4.31 by $0.07. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the business earned $3.89 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

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 is Thursday, October 9th. Mastercard’s payout ratio is presently 20.50%.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the business’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 completion of the sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MA. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. TD Cowen reiterated a “buy” rating and set a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price target for the company. Finally, Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $641.93.

Read 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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