Sumitomo Mitsui Trust Group Inc. Has $967.99 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. raised its position in Mastercard Incorporated (NYSE:MA – Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,960,296 shares of the credit services provider’s stock after acquiring an additional 25,214 shares during the period. Mastercard comprises approximately 0.7% of Sumitomo Mitsui Trust Group Inc.’s holdings, making the stock its 19th largest holding. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Mastercard worth $967,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Mastercard by 120,665.3% in the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Swedbank AB bought a new position in Mastercard during the 1st quarter valued at about $660,652,000. PineStone Asset Management Inc. boosted its position in Mastercard by 145.6% in the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after buying an additional 1,053,616 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Mastercard during the second quarter worth about $259,071,000. Finally, Capital World Investors increased its holdings in shares of Mastercard by 13.3% during the first quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock worth $1,586,107,000 after buying an additional 387,317 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated 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 owns 15,031 shares in the company, valued at approximately $7,363,085.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,370 shares of company stock worth $153,495,958 in the last three months. 0.10% of the stock is owned by corporate insiders.

Mastercard Price Performance

Shares of NYSE:MA opened at $530.12 on Tuesday. Mastercard Incorporated has a 1-year low of $393.02 and a 1-year high of $534.03. The stock’s fifty day simple moving average is $500.61 and its two-hundred day simple moving average is $469.41. The stock has a market cap of $486.56 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.73 by $0.16. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. Mastercard’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 earnings per share. As a group, analysts forecast that Mastercard Incorporated will post 14.45 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 19.97%.

Analyst Ratings Changes

A number of research firms recently commented on MA. BNP Paribas lowered Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a research report on Tuesday, September 3rd. Oppenheimer began coverage on Mastercard in a report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Bank of America boosted their target price on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $540.17.

View Our Latest Report on Mastercard

About Mastercard

(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.

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