Clarkston Capital Partners LLC Raises Position in Mastercard Incorporated (MA)
Clarkston Capital Partners LLC boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,735 shares of the credit services provider’s stock after buying an additional 1,305 shares during the period. Clarkston Capital Partners LLC’s holdings in Mastercard were worth $11,384,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Glassman Wealth Services raised its stake in shares of Mastercard by 0.3% in the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock valued at $199,000 after buying an additional 6 shares in the last quarter. Norway Savings Bank raised its stake in shares of Mastercard by 1.1% in the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock valued at $117,000 after buying an additional 10 shares in the last quarter. Genesee Valley Trust Co. raised its stake in shares of Mastercard by 0.3% in the first quarter. Genesee Valley Trust Co. now owns 6,246 shares of the credit services provider’s stock valued at $702,000 after buying an additional 18 shares in the last quarter. Concert Wealth Management Inc. raised its stake in shares of Mastercard by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 6,467 shares of the credit services provider’s stock valued at $664,000 after buying an additional 18 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in shares of Mastercard by 0.3% in the second quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock valued at $783,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 75.99% of the company’s stock.
Shares of Mastercard Incorporated (NYSE:MA) traded down 0.16% on Friday, reaching $132.75. The company’s stock had a trading volume of 2,215,524 shares. Mastercard Incorporated has a 1-year low of $96.13 and a 1-year high of $134.24. The firm has a market cap of $141.37 billion, a price-to-earnings ratio of 32.94 and a beta of 1.17. The company’s 50 day moving average is $129.18 and its 200-day moving average is $119.24.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. Mastercard’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts expect that Mastercard Incorporated will post $4.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Friday, July 7th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.88 annualized dividend and a yield of 0.66%. Mastercard’s payout ratio is 21.78%.
Several brokerages have recently issued reports on MA. Zacks Investment Research upgraded Mastercard from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “top pick” rating and set a $130.00 price target on shares of Mastercard in a report on Friday, June 16th. Morgan Stanley lifted their price target on Mastercard from $124.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, May 30th. BMO Capital Markets lifted their price target on Mastercard from $123.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Finally, Mizuho began coverage on Mastercard in a report on Tuesday, June 27th. They set a “neutral” rating and a $125.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $128.20.
In related news, CFO Martina Hundmejean sold 91,107 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total value of $11,824,777.53. Following the transaction, the chief financial officer now owns 170,570 shares in the company, valued at $22,138,280.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 87,618 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total value of $11,213,351.64. Following the completion of the transaction, the insider now owns 112,649,063 shares in the company, valued at approximately $14,416,827,082.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 850,468 shares of company stock worth $109,574,694. 0.30% of the stock is owned by company insiders.
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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