Northcape Wealth Management LLC Cuts Stake in Mastercard Incorporated (NYSE:MA)

by · The Markets Daily

Northcape Wealth Management LLC reduced its stake in Mastercard Incorporated (NYSE:MA – Free Report) by 4.0% during the first quarter, HoldingsChannel reports. The fund owned 2,378 shares of the credit services provider’s stock after selling 100 shares during the period. Northcape Wealth Management LLC’s holdings in Mastercard were worth $1,303,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Mastercard by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock worth $40,640,219,000 after acquiring an additional 377,302 shares during the last quarter. FMR LLC boosted its position in shares of Mastercard by 4.3% during the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock valued at $11,725,627,000 after buying an additional 912,856 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Mastercard by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider’s stock valued at $9,800,202,000 after buying an additional 282,739 shares during the last quarter. Norges Bank purchased a new stake in shares of Mastercard during the fourth quarter valued at $6,022,224,000. Finally, Wellington Management Group LLP boosted its position in shares of Mastercard by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock valued at $5,139,713,000 after buying an additional 817,836 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MA has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Wolfe Research set a $655.00 price objective on Mastercard in a research report on Monday, June 23rd. Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. KeyCorp increased their price objective on Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Truist Financial initiated coverage on Mastercard in a research report on Monday, June 2nd. They set a “buy” rating and a $640.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $611.50.

Get Our Latest Stock Report on MA

Insider Activity at Mastercard

In related news, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $569.45, for a total transaction of $85,417.50. Following the sale, the insider now owns 3,555 shares of the company’s stock, valued at approximately $2,024,394.75. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Vosburg sold 14,051 shares of Mastercard stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $585.05, for a total value of $8,220,537.55. Following the sale, the insider now directly owns 58,451 shares in the company, valued at $34,196,757.55. This trade represents a 19.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,383 shares of company stock valued at $19,035,108. 0.09% of the stock is owned by company insiders.

Mastercard Stock Up 1.1%

NYSE MA opened at $552.02 on Friday. The stock’s 50-day moving average price is $563.13 and its 200-day moving average price is $545.44. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $594.71. The company has a market capitalization of $503.28 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 2.40 and a beta of 1.05.

Mastercard (NYSE:MA – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The firm had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the company earned $3.31 earnings per share. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.32%.

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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