Pinnacle Financial Partners Inc. Raises Position in Mastercard Incorporated (MA)
Pinnacle Financial Partners Inc. increased its position in Mastercard Incorporated (NYSE:MA) by 28.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,114 shares of the credit services provider’s stock after purchasing an additional 1,343 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Mastercard were worth $742,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MA. Personal Capital Advisors Corp raised its stake in Mastercard by 3.3% during the second quarter. Personal Capital Advisors Corp now owns 270,438 shares of the credit services provider’s stock worth $32,845,000 after acquiring an additional 8,670 shares in the last quarter. IBM Retirement Fund raised its stake in Mastercard by 68.8% during the second quarter. IBM Retirement Fund now owns 23,051 shares of the credit services provider’s stock worth $3,128,000 after acquiring an additional 9,397 shares in the last quarter. Oribel Capital Management LP acquired a new position in Mastercard during the first quarter worth $5,849,000. Puzo Michael J raised its stake in Mastercard by 0.4% during the second quarter. Puzo Michael J now owns 50,460 shares of the credit services provider’s stock worth $6,129,000 after acquiring an additional 213 shares in the last quarter. Finally, Edgestream Partners L.P. raised its stake in Mastercard by 289.8% during the first quarter. Edgestream Partners L.P. now owns 20,991 shares of the credit services provider’s stock worth $2,361,000 after acquiring an additional 15,606 shares in the last quarter. 76.05% of the stock is owned by hedge funds and other institutional investors.
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Mastercard Incorporated (MA) opened at 143.52 on Monday. Mastercard Incorporated has a one year low of $99.51 and a one year high of $143.78. The firm’s 50-day moving average price is $138.07 and its 200-day moving average price is $125.23. The company has a market cap of $152.83 billion, a PE ratio of 35.61 and a beta of 1.18.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. On average, equities research analysts forecast that Mastercard Incorporated will post $4.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 6th will be paid a $0.22 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.61%. Mastercard’s payout ratio is 21.78%.
In other news, insider Craig Vosburg sold 14,200 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the sale, the insider now owns 40,646 shares of the company’s stock, valued at $5,766,041.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, 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. In the last three months, insiders sold 869,668 shares of company stock valued at $112,301,656. Insiders own 0.30% of the company’s stock.
Several research analysts have issued reports on MA shares. Wedbush reiterated a “buy” rating and set a $140.00 price objective (up from $129.00) on shares of Mastercard in a research note on Wednesday, September 6th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $158.00 price objective (up from $149.00) on shares of Mastercard in a research note on Friday, September 8th. Barclays PLC increased their price objective on Mastercard from $142.00 to $148.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Instinet reiterated a “buy” rating and set a $163.00 price objective (up from $153.00) on shares of Mastercard in a research note on Saturday, September 9th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $150.00 price objective (up from $124.00) on shares of Mastercard in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $143.08.
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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