Mastercard Incorporated (MA) Stake Cut by Smith Salley & Associates
Smith Salley & Associates cut its stake in Mastercard Incorporated (NYSE:MA) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,287 shares of the credit services provider’s stock after selling 176 shares during the period. Mastercard makes up approximately 1.7% of Smith Salley & Associates’ portfolio, making the stock its 11th largest position. Smith Salley & Associates’ holdings in Mastercard were worth $8,536,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Beacon Advisors Inc. purchased a new position in shares of Mastercard during the first quarter valued at $100,000. Lipe & Dalton purchased a new position in shares of Mastercard during the first quarter valued at $101,000. Proficio Capital Partners LLC increased its position in shares of Mastercard by 108.2% in the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock valued at $108,000 after buying an additional 464 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Mastercard by 10.9% in the first quarter. Kistler Tiffany Companies LLC now owns 1,019 shares of the credit services provider’s stock valued at $115,000 after buying an additional 100 shares in the last quarter. Finally, Norway Savings Bank increased its position 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. 76.10% of the stock is owned by institutional investors.
Shares of Mastercard Incorporated (NYSE MA) traded down 0.10% during mid-day trading on Tuesday, hitting $133.71. 1,113,468 shares of the stock traded hands. The firm has a 50 day moving average of $129.18 and a 200 day moving average of $119.24. Mastercard Incorporated has a 12 month low of $95.77 and a 12 month high of $134.24. The company has a market cap of $142.39 billion, a P/E ratio of 33.18 and a beta of 1.17.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts anticipate that Mastercard Incorporated will post $4.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, July 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.66%. Mastercard’s dividend payout ratio is currently 21.78%.
Several research analysts recently weighed in on the stock. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Citigroup Inc. upped their target price on shares of Mastercard from $123.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, June 19th. Vetr downgraded shares of Mastercard from a “hold” rating to a “sell” rating and set a $115.30 target price for the company. in a report on Monday, May 22nd. BMO Capital Markets upped their target price on shares of Mastercard from $126.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Mastercard in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average target price of $128.20.
In related news, CFO Martina Hundmejean sold 91,107 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the sale, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 87,618 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $127.98, for a total transaction of $11,213,351.64. Following the completion of the sale, the insider now directly owns 112,649,063 shares in the company, valued at $14,416,827,082.74. The disclosure for this sale can be found here. Insiders have sold a total of 850,468 shares of company stock worth $109,574,694 over the last ninety days. 0.30% of the stock is owned by corporate 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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