Byrne Asset Management LLC Has $966,000 Stock Position in Mastercard Incorporated $MA

Byrne Asset Management LLC trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,719 shares of the credit services provider’s stock after selling 60 shares during the period. Byrne Asset Management LLC’s holdings in Mastercard were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Mastercard by 65,631.5% in the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock worth $4,508,636,000 after purchasing an additional 8,213,123 shares during the last quarter. Nuveen LLC acquired a new position in Mastercard in the 1st quarter worth about $4,238,764,000. Wellington Management Group LLP increased its position in Mastercard by 38.6% in the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after purchasing an additional 3,765,378 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Mastercard in the 4th quarter worth about $561,313,000. Finally, Price T Rowe Associates Inc. MD increased its position in Mastercard by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock worth $11,015,557,000 after purchasing an additional 907,184 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the sale, the insider owned 23,624 shares of the company’s stock, valued at approximately $13,229,440. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,094 shares of company stock worth $26,521,861 over the last 90 days. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MA. Morgan Stanley upped their target price on Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wells Fargo & Company upped their target price on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Truist Financial dropped their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Finally, UBS Group increased their price objective on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $626.54.

Mastercard Stock Performance

Shares of NYSE MA opened at $583.30 on Tuesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $527.31 billion, a price-to-earnings ratio of 39.33, a P/E/G ratio of 2.38 and a beta of 0.99. The business’s 50-day simple moving average is $574.96 and its 200-day simple moving average is $558.34. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the company earned $3.50 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were paid a dividend of $0.76 per share. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

Mastercard Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.