Grisanti Capital Management LLC reduced its stake in Mastercard Incorporated (NYSE:MA) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,675 shares of the credit services provider’s stock after selling 7,685 shares during the period. Mastercard makes up 3.2% of Grisanti Capital Management LLC’s portfolio, making the stock its 15th biggest position. Grisanti Capital Management LLC’s holdings in Mastercard were worth $7,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Mastercard by 2.9% during the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock valued at $7,176,378,000 after buying an additional 1,814,116 shares during the last quarter. State Street Corp boosted its position in shares of Mastercard by 0.4% during the first quarter. State Street Corp now owns 37,454,824 shares of the credit services provider’s stock valued at $4,212,546,000 after buying an additional 140,515 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Mastercard by 6.2% during the first quarter. Ameriprise Financial Inc. now owns 10,168,300 shares of the credit services provider’s stock valued at $1,143,636,000 after buying an additional 591,427 shares during the last quarter. Akre Capital Management LLC boosted its position in shares of Mastercard by 13.4% during the first quarter. Akre Capital Management LLC now owns 5,329,183 shares of the credit services provider’s stock valued at $599,373,000 after buying an additional 627,792 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Mastercard by 5.3% during the first quarter. Legal & General Group Plc now owns 4,519,619 shares of the credit services provider’s stock valued at $508,337,000 after buying an additional 228,870 shares during the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

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MA has been the topic of several recent analyst reports. BidaskClub cut Mastercard from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $130.00 price objective on shares of Mastercard in a research report on Friday, June 16th. Citigroup Inc. increased their price objective on Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Mizuho initiated coverage on Mastercard in a research report on Tuesday, June 27th. They set a “neutral” rating and a $125.00 price objective on the stock. Finally, Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $143.08.

In related news, major shareholder Foundation Mastercard sold 87,618 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was 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 of the company’s stock, valued at approximately $14,416,827,082.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the transaction, the director now directly owns 45,278 shares of the company’s stock, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. Insiders sold a total of 869,668 shares of company stock valued at $112,301,656 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Mastercard Incorporated (MA) opened at 143.52 on Friday. Mastercard Incorporated has a 1-year low of $99.51 and a 1-year high of $143.78. The company has a market cap of $152.83 billion, a P/E ratio of 35.61 and a beta of 1.18. The stock has a 50 day moving average price of $138.07 and a 200 day moving average price of $125.23.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. Mastercard’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, equities research analysts anticipate that Mastercard Incorporated will post $4.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, October 6th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.61%. Mastercard’s payout ratio is 21.78%.

About Mastercard

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.

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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