Somerville Kurt F Sells 527 Shares of Mastercard Incorporated (NYSE:MA)

by · The Cerbat Gem

Somerville Kurt F lessened its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 49,295 shares of the credit services provider’s stock after selling 527 shares during the quarter. Mastercard accounts for 4.4% of Somerville Kurt F’s portfolio, making the stock its 6th biggest holding. Somerville Kurt F’s holdings in Mastercard were worth $25,957,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Temasek Holdings Private Ltd raised its stake in shares of Mastercard by 2.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock valued at $1,385,383,000 after acquiring an additional 62,891 shares in the last quarter. Cardano Risk Management B.V. raised its position in shares of Mastercard by 2.7% in the fourth quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock valued at $194,141,000 after purchasing an additional 9,611 shares during the period. Dock Street Asset Management Inc. lifted its stake in shares of Mastercard by 4.5% in the fourth quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock worth $35,932,000 after buying an additional 2,931 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Mastercard by 15.6% during the 4th quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock worth $1,325,353,000 after buying an additional 337,905 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Mastercard by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after buying an additional 138,842 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors.

Insider Transactions at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the transaction, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $640.00 target price (up previously from $614.00) on shares of Mastercard in a report on Friday, January 31st. Macquarie increased their price objective on Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $606.11.

Read Our Latest Research Report on MA

Mastercard Stock Performance

Shares of NYSE:MA opened at $530.15 on Friday. The business has a fifty day moving average of $551.80 and a 200-day moving average of $528.13. The firm has a market cap of $483.35 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $582.23.

Mastercard (NYSE:MA – Get Free Report) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is 21.89%.

About Mastercard

(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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