Iberiabank Corp Raises Holdings in Mastercard Incorporated (MA)
Iberiabank Corp grew its stake in Mastercard Incorporated (NYSE:MA) by 11.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,486 shares of the credit services provider’s stock after purchasing an additional 1,303 shares during the quarter. Iberiabank Corp’s holdings in Mastercard were worth $1,516,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new position in Mastercard in the 1st quarter worth $100,000. Proficio Capital Partners LLC raised its holdings in Mastercard by 108.2% in the 1st quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 464 shares in the last quarter. Lipe & Dalton bought a new position in Mastercard in the 1st quarter worth $101,000. Kistler Tiffany Companies LLC raised its holdings in Mastercard by 10.9% in the 1st quarter. Kistler Tiffany Companies LLC now owns 1,019 shares of the credit services provider’s stock worth $115,000 after purchasing an additional 100 shares in the last quarter. Finally, First Bank & Trust raised its holdings in Mastercard by 14.5% in the 1st quarter. First Bank & Trust now owns 1,300 shares of the credit services provider’s stock worth $146,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
MA has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Mastercard from $124.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, May 30th. Deutsche Bank AG reiterated a “buy” rating and issued a $150.00 price target (up from $124.00) on shares of Mastercard in a research note on Monday, July 10th. Citigroup Inc. increased their price target on shares of Mastercard from $123.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. Credit Suisse Group reiterated a “buy” rating and issued a $125.00 price target on shares of Mastercard in a research note on Friday, July 7th. Finally, Zacks Investment Research upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $139.55.
In other news, major shareholder Foundation Mastercard sold 87,618 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $127.98, for a total transaction of $11,213,351.64. Following the transaction, the insider now owns 112,649,063 shares in the company, valued at $14,416,827,082.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Martina Hundmejean sold 91,107 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the transaction, the chief financial officer now owns 170,570 shares in the company, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 850,468 shares of company stock worth $109,574,694. Corporate insiders own 0.30% of the company’s stock.
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Shares of Mastercard Incorporated (NYSE MA) traded up 1.262% during mid-day trading on Tuesday, hitting $143.185. 1,814,121 shares of the stock were exchanged. The stock’s 50 day moving average is $133.48 and its 200-day moving average is $122.39. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $143.59. The stock has a market cap of $152.48 billion, a PE ratio of 35.530 and a beta of 1.18.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating 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 firm 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 company posted $0.96 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts anticipate that Mastercard Incorporated will post $4.43 EPS for the current year.
Mastercard Company Profile
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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