Olstein Capital Management L.P. lessened its stake in Mastercard Inc (NYSE:MA) by 18.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,000 shares of the credit services provider’s stock after selling 4,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Mastercard were worth $3,537,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its stake in Mastercard by 19,937.5% in the second quarter. Cornerstone Wealth Management LLC now owns 1,324,080 shares of the credit services provider’s stock valued at $6,699,000 after acquiring an additional 1,317,472 shares during the period. BlackRock Inc. grew its stake in Mastercard by 1.9% in the first quarter. BlackRock Inc. now owns 64,578,003 shares of the credit services provider’s stock valued at $11,311,482,000 after acquiring an additional 1,232,199 shares during the period. GQG Partners LLC grew its stake in Mastercard by 270.9% in the first quarter. GQG Partners LLC now owns 1,383,512 shares of the credit services provider’s stock valued at $242,336,000 after acquiring an additional 1,010,530 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Mastercard by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,911,051 shares of the credit services provider’s stock valued at $1,560,860,000 after acquiring an additional 750,224 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Mastercard by 17.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,657,010 shares of the credit services provider’s stock valued at $815,722,000 after acquiring an additional 694,700 shares during the period. Institutional investors and hedge funds own 74.42% of the company’s stock.
In related news, CFO Martina Hundmejean sold 69,817 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $200.35, for a total transaction of $13,987,835.95. Following the sale, the chief financial officer now owns 128,905 shares in the company, valued at $25,826,116.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.
A number of research analysts have issued reports on MA shares. Wells Fargo & Co boosted their target price on Mastercard from $211.00 to $227.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Nomura boosted their target price on Mastercard to $213.00 and gave the company a “buy” rating in a research note on Thursday, May 3rd. Wolfe Research started coverage on Mastercard in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Morgan Stanley boosted their target price on Mastercard from $224.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, KeyCorp boosted their target price on Mastercard from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 4th. Four research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $202.70.
MA stock opened at $214.57 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.11. The stock has a market cap of $219.66 billion, a PE ratio of 37.51, a PEG ratio of 1.74 and a beta of 1.16. Mastercard Inc has a fifty-two week low of $131.68 and a fifty-two week high of $215.86.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 26th. The credit services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.13. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Mastercard had a return on equity of 103.82% and a net margin of 33.81%. Mastercard’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. equities research analysts anticipate that Mastercard Inc will post 6.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 9th. Investors of record on Monday, July 9th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 6th. This represents a $1.00 annualized dividend and a yield of 0.47%. Mastercard’s payout ratio is presently 21.83%.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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