Fort Sheridan Advisors LLC reduced its position in Mastercard Incorporated (NYSE:MA – Get Rating) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,335 shares of the credit services provider’s stock after selling 459 shares during the quarter. Mastercard comprises about 1.0% of Fort Sheridan Advisors LLC’s portfolio, making the stock its 20th largest position. Fort Sheridan Advisors LLC’s holdings in Mastercard were worth $3,336,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. PrairieView Partners LLC boosted its position in Mastercard by 58.2% during the 1st quarter. PrairieView Partners LLC now owns 87 shares of the credit services provider’s stock worth $31,000 after buying an additional 32 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Mastercard during the 4th quarter valued at $37,000. Western Pacific Wealth Management LP bought a new stake in Mastercard during the 4th quarter valued at $39,000. Industrial Alliance Investment Management Inc. bought a new stake in Mastercard during the 4th quarter valued at $42,000. Finally, Joseph P. Lucia & Associates LLC bought a new stake in Mastercard during the 1st quarter valued at $44,000. 74.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, major shareholder Foundation Mastercard sold 106,326 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $327.74, for a total value of $34,847,283.24. Following the transaction, the insider now directly owns 103,841,972 shares in the company, valued at $34,033,167,903.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 318,982 shares of company stock worth $105,338,500. Insiders own 0.33% of the company’s stock.
Mastercard Trading Up 0.4 %
Mastercard (NYSE:MA – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The credit services provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Mastercard had a return on equity of 143.35% and a net margin of 46.49%. The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts forecast that Mastercard Incorporated will post 10.64 EPS for the current fiscal year.
Mastercard Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Friday, July 8th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 7th. Mastercard’s dividend payout ratio (DPR) is 19.86%.
Analysts Set New Price Targets
A number of analysts have commented on MA shares. The Goldman Sachs Group began coverage on shares of Mastercard in a research note on Tuesday, May 17th. They set a “buy” rating and a $460.00 price target for the company. Truist Financial cut their price objective on shares of Mastercard from $450.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Citigroup cut their price objective on shares of Mastercard from $453.00 to $415.00 in a report on Tuesday, July 26th. Mizuho lifted their price objective on shares of Mastercard from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Piper Sandler cut their price objective on shares of Mastercard from $357.00 to $298.00 and set an “underweight” rating on the stock in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $414.55.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.
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