City Holding Co. Acquires 79 Shares of Mastercard Incorporated $MA

City Holding Co. increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.4% in the second quarter, Holdings Channel reports. The firm owned 19,008 shares of the credit services provider’s stock after buying an additional 79 shares during the quarter. Mastercard accounts for approximately 1.4% of City Holding Co.’s holdings, making the stock its 12th biggest holding. City Holding Co.’s holdings in Mastercard were worth $10,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MA. Family Legacy Financial Solutions LLC bought a new stake in Mastercard in the second quarter valued at approximately $26,000. Flaharty Asset Management LLC bought a new stake in shares of Mastercard in the 1st quarter valued at $27,000. Keystone Global Partners LLC bought a new position in Mastercard during the first quarter worth about $31,000. Hughes Financial Services LLC acquired a new position in Mastercard in the first quarter valued at about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard during the 1st quarter worth approximately $44,000. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MA shares. UBS Group increased their target price on shares of Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Truist Financial lowered 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. Morgan Stanley increased their price target on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Wolfe Research set a $655.00 price target on Mastercard in a research report on Monday, June 23rd. Two research 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $630.89.

Mastercard Stock Down 0.3%

Shares of MA opened at $565.63 on Friday. The firm has a market cap of $511.34 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 2.32 and a beta of 0.99. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The firm’s 50-day simple moving average is $579.00 and its 200 day simple moving average is $560.29.

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

Mastercard Dividend Announcement

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

Insider Activity at Mastercard

In related news, Director Julius Genachowski sold 312 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the transaction, the director owned 8,469 shares in the company, valued at $4,833,004.23. This trade represents a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value 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 trade represents a 35.60% decrease in their position. 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 90 days. 0.09% of the stock is owned by corporate insiders.

About Mastercard

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.