Asset Dedication LLC Sells 1,349 Shares of Mastercard Incorporated (NYSE:MA)

by · The Cerbat Gem

Asset Dedication LLC reduced its position in Mastercard Incorporated (NYSE:MA – Free Report) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,458 shares of the credit services provider’s stock after selling 1,349 shares during the period. Asset Dedication LLC’s holdings in Mastercard were worth $4,176,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. McLean Asset Management Corp boosted its holdings in Mastercard by 1.3% in the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock worth $834,000 after purchasing an additional 21 shares during the last quarter. Hoxton Planning & Management LLC boosted its stake in shares of Mastercard by 1.4% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock worth $788,000 after buying an additional 22 shares during the last quarter. Quilter Plc grew its holdings in shares of Mastercard by 2.8% in the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock worth $353,000 after acquiring an additional 22 shares during the period. Benin Management CORP lifted its holdings in Mastercard by 3.0% in the first quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock valued at $382,000 after acquiring an additional 23 shares during the period. Finally, Atticus Wealth Management LLC boosted its position in Mastercard by 1.3% in the first quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock worth $835,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Mastercard in a report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price objective on the stock. Bank of America boosted their price objective on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Compass Point assumed coverage on Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price on the stock. Royal Bank of Canada boosted their price target on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $520.00 price objective on shares of Mastercard in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $523.27.

Check Out Our Latest Report on MA

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is currently owned by company insiders.

Mastercard Stock Performance

Shares of NYSE:MA opened at $507.23 on Wednesday. The firm has a fifty day simple moving average of $483.26 and a two-hundred day simple moving average of $463.24. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $509.88. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $471.53 billion, a P/E ratio of 40.32, a PEG ratio of 2.22 and a beta of 1.10.

Mastercard (NYSE:MA – Get Free Report) last released its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. On average, analysts expect that Mastercard Incorporated will post 14.3 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 20.99%.

Mastercard Profile

(Free Report)

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.

Further Reading

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