Spinnaker Trust Has $4.03 Million Position in Mastercard Incorporated $MA

Spinnaker Trust boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,173 shares of the credit services provider’s stock after buying an additional 110 shares during the quarter. Spinnaker Trust’s holdings in Mastercard were worth $4,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after buying an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Mastercard during the 2nd quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD lifted its holdings in Mastercard by 4.7% during 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 buying an additional 907,184 shares during the period. Wellington Management Group LLP lifted its holdings in Mastercard by 38.6% during 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 buying an additional 3,765,378 shares during the period. Finally, Nuveen LLC acquired a new position in Mastercard during the 1st quarter worth about $4,238,764,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Down 2.1%

MA stock opened at $553.89 on Thursday. The stock’s 50 day simple moving average is $578.08 and its 200 day simple moving average is $567.52. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. 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 company has a market cap of $500.72 billion, a P/E ratio of 37.35, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97.

Mastercard (NYSE:MA) last posted 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. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the business earned $3.50 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors 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 yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is 20.50%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MA. Royal Bank Of Canada boosted their price objective on Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a research note on Wednesday, October 8th. Wall Street Zen raised Mastercard from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Morgan Stanley boosted their price objective on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Citigroup raised Mastercard to a “strong-buy” rating in a research note on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus price target of $638.96.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.