United Asset Strategies Inc. Reduces Holdings in Mastercard Incorporated (MA)
United Asset Strategies Inc. lessened its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,429 shares of the credit services provider’s stock after selling 626 shares during the period. Mastercard accounts for approximately 1.5% of United Asset Strategies Inc.’s holdings, making the stock its 23rd biggest position. United Asset Strategies Inc.’s holdings in Mastercard were worth $5,153,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in shares of Mastercard by 21.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 123,135 shares of the credit services provider’s stock valued at $14,955,000 after purchasing an additional 21,575 shares during the last quarter. Signature Financial Management Inc. boosted its holdings in shares of Mastercard by 4.0% during the 2nd quarter. Signature Financial Management Inc. now owns 24,282 shares of the credit services provider’s stock valued at $2,951,000 after purchasing an additional 930 shares during the last quarter. Abbrea Capital LLC boosted its holdings in shares of Mastercard by 10.5% during the 2nd quarter. Abbrea Capital LLC now owns 2,253 shares of the credit services provider’s stock valued at $274,000 after purchasing an additional 215 shares during the last quarter. 440 Investment Group LLC boosted its holdings in shares of Mastercard by 0.6% during the 2nd quarter. 440 Investment Group LLC now owns 14,309 shares of the credit services provider’s stock valued at $1,738,000 after purchasing an additional 85 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in shares of Mastercard by 7.1% during the 2nd quarter. Wedbush Securities Inc. now owns 17,254 shares of the credit services provider’s stock valued at $2,095,000 after purchasing an additional 1,147 shares during the last quarter. 76.05% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on MA. Royal Bank Of Canada reissued a “top pick” rating and set a $130.00 price objective on shares of Mastercard in a report on Friday, June 16th. Piper Jaffray Companies reissued an “overweight” rating and set a $150.00 price objective (up previously from $143.00) on shares of Mastercard in a report on Friday, September 8th. Oppenheimer Holdings, Inc. increased their price target on shares of Mastercard and gave the company an “outperform” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $137.00 price target (up previously from $129.00) on shares of Mastercard in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $143.08.
Mastercard Incorporated (NYSE:MA) opened at 143.52 on Monday. The stock’s 50 day moving average is $138.07 and its 200-day moving average is $125.23. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $143.78. The stock has a market capitalization of $152.83 billion, a price-to-earnings ratio of 35.61 and a beta of 1.18.
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, beating analysts’ consensus estimates of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Mastercard Incorporated will post $4.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, October 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.61%. The ex-dividend date is Thursday, October 5th. Mastercard’s payout ratio is currently 21.78%.
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In related news, major shareholder Foundation Mastercard sold 87,618 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $126.60, for a total transaction of $11,092,438.80. Following the sale, the insider now directly owns 112,736,681 shares of the company’s stock, valued at approximately $14,272,463,814.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $11,824,777.53. Following the sale, the chief financial officer now directly owns 170,570 shares in the company, valued at $22,138,280.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 869,668 shares of company stock worth $112,301,656. 0.30% of the stock is owned by insiders.
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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