Mastercard Incorporated $MA Shares Sold by Morton Capital Management LLC CA

Morton Capital Management LLC CA trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 802 shares of the credit services provider’s stock after selling 18 shares during the period. Morton Capital Management LLC CA’s holdings in Mastercard were worth $451,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MA. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard in the 2nd quarter worth about $26,000. Flaharty Asset Management LLC acquired a new stake in Mastercard in the 1st quarter worth about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard in the 1st quarter worth about $31,000. Hughes Financial Services LLC acquired a new stake in Mastercard in the 1st quarter worth about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard in the 1st quarter worth about $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of NYSE:MA opened at $576.40 on Thursday. The company has a market cap of $521.07 billion, a P/E ratio of 38.87, a PEG ratio of 2.38 and a beta of 0.97. 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 one year low of $465.59 and a one year high of $601.77. The business’s 50-day simple moving average is $581.11 and its 200 day simple moving average is $562.55.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $3.50 EPS. On average, sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

MA has been the topic of a number of research reports. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. TD Cowen restated a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of Mastercard in a report on Wednesday. Robert W. Baird raised their price objective on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Truist Financial cut their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus target price of $634.04.

Mastercard Company 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.