Ipswich Investment Management Co. Inc. Sells 855 Shares of Mastercard Incorporated $MA

Ipswich Investment Management Co. Inc. lessened its holdings in Mastercard Incorporated (NYSE:MA) by 40.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,263 shares of the credit services provider’s stock after selling 855 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Mastercard were worth $710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MA. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard during the 2nd quarter worth $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard in the first quarter valued at about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the first quarter worth about $31,000. Hughes Financial Services LLC acquired a new stake in Mastercard during the first quarter worth about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard during the first quarter worth about $44,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE MA opened at $565.63 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The business’s 50 day moving average is $579.00 and its two-hundred day moving average is $560.04. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The stock has a market capitalization of $511.34 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.33 and a beta of 0.99.

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

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is currently 20.50%.

Analysts Set New Price Targets

MA has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Morgan Stanley lifted their price objective 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 raised their target price on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a research note on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Mastercard has an average rating of “Buy” and a consensus target price of $630.89.

Insiders Place Their Bets

In other Mastercard news, Director Julius Genachowski sold 312 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director directly owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 17,816 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,349 shares of company stock valued at $21,372,994 in the last quarter. 0.09% of the stock is currently owned by company insiders.

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.