Mastercard Inc (NYSE:MA) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in shares of Mastercard Inc (NYSE:MA) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 339,128 shares of the credit services provider’s stock after selling 500 shares during the period. Mastercard comprises about 0.8% of State of Michigan Retirement System’s holdings, making the stock its 24th largest position. State of Michigan Retirement System’s holdings in Mastercard were worth $92,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Mastercard by 0.5% during the second quarter. Vanguard Group Inc. now owns 71,012,814 shares of the credit services provider’s stock worth $18,785,021,000 after buying an additional 367,442 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Mastercard by 0.5% during the second quarter. BlackRock Inc. now owns 63,796,913 shares of the credit services provider’s stock worth $16,876,196,000 after buying an additional 297,230 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Mastercard by 12.5% during the second quarter. JPMorgan Chase & Co. now owns 13,943,219 shares of the credit services provider’s stock worth $3,640,576,000 after buying an additional 1,548,776 shares during the last quarter. Morgan Stanley grew its holdings in shares of Mastercard by 4.8% during the second quarter. Morgan Stanley now owns 13,929,653 shares of the credit services provider’s stock worth $3,684,811,000 after buying an additional 640,063 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Mastercard by 0.8% during the second quarter. Northern Trust Corp now owns 11,394,223 shares of the credit services provider’s stock worth $3,014,114,000 after buying an additional 91,436 shares during the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.

Shares of NYSE:MA traded down $2.25 during trading on Wednesday, hitting $259.01. 3,396,853 shares of the stock were exchanged, compared to its average volume of 3,151,676. The company has a fifty day moving average price of $275.00 and a two-hundred day moving average price of $264.60. The company has a market cap of $278.29 billion, a PE ratio of 39.91, a P/E/G ratio of 2.28 and a beta of 1.06. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.55. Mastercard Inc has a 12-month low of $171.89 and a 12-month high of $293.69.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 EPS. Equities research analysts anticipate that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Tuesday, October 8th. Mastercard’s dividend payout ratio (DPR) is 20.34%.

In other news, insider Michael Miebach sold 2,233 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $283.12, for a total transaction of $632,206.96. Following the sale, the insider now owns 15,548 shares of the company’s stock, valued at approximately $4,401,949.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 23,850 shares of Mastercard stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $279.47, for a total value of $6,665,359.50. Following the transaction, the insider now owns 112,102,262 shares of the company’s stock, valued at $31,329,219,161.14. The disclosure for this sale can be found here. Insiders have sold a total of 130,969 shares of company stock worth $35,963,564 in the last three months. Corporate insiders own 3.70% of the company’s stock.

A number of equities analysts recently issued reports on the company. Wells Fargo & Co raised their price target on Mastercard from $285.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. BMO Capital Markets set a $328.00 price target on Mastercard and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays raised their price target on Mastercard from $310.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. William Blair reissued an “outperform” rating on shares of Mastercard in a report on Friday, September 13th. Finally, Deutsche Bank raised their price target on Mastercard from $267.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $299.09.

Mastercard Company Profile

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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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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