Avitas Wealth Management LLC trimmed its holdings in shares of Mastercard Inc (NYSE:MA) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,223 shares of the credit services provider’s stock after selling 728 shares during the period. Mastercard comprises approximately 1.8% of Avitas Wealth Management LLC’s holdings, making the stock its 6th biggest holding. Avitas Wealth Management LLC’s holdings in Mastercard were worth $5,389,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Institute for Wealth Management LLC. raised its stake in Mastercard by 10.0% during the 2nd quarter. Institute for Wealth Management LLC. now owns 8,363 shares of the credit services provider’s stock valued at $2,473,000 after acquiring an additional 757 shares in the last quarter. Essex Savings Bank increased its holdings in shares of Mastercard by 4.3% during the second quarter. Essex Savings Bank now owns 3,727 shares of the credit services provider’s stock valued at $1,102,000 after purchasing an additional 152 shares during the period. Convergence Investment Partners LLC raised its stake in shares of Mastercard by 16.9% during the second quarter. Convergence Investment Partners LLC now owns 6,086 shares of the credit services provider’s stock valued at $1,800,000 after purchasing an additional 879 shares in the last quarter. Community Bank N.A. lifted its holdings in Mastercard by 12.8% in the second quarter. Community Bank N.A. now owns 880 shares of the credit services provider’s stock worth $260,000 after purchasing an additional 100 shares during the period. Finally, Morningstar Investment Services LLC lifted its holdings in Mastercard by 4.9% in the second quarter. Morningstar Investment Services LLC now owns 670,676 shares of the credit services provider’s stock worth $196,462,000 after purchasing an additional 31,117 shares during the period. Hedge funds and other institutional investors own 73.87% of the company’s stock.
In other news, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $307.29, for a total transaction of $1,536,450.00. Following the completion of the transaction, the director now directly owns 32,573 shares in the company, valued at approximately $10,009,357.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ajay Banga sold 61,067 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $315.89, for a total value of $19,290,454.63. Following the completion of the transaction, the chief executive officer now owns 384,371 shares of the company’s stock, valued at approximately $121,418,955.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,005,122 shares of company stock worth $304,245,598. Corporate insiders own 3.79% of the company’s stock.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 30th. The credit services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.15 by $0.21. Mastercard had a net margin of 45.12% and a return on equity of 129.52%. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was down 19.8% on a year-over-year basis. On average, sell-side analysts anticipate that Mastercard Inc will post 6.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, July 8th. Mastercard’s dividend payout ratio is 20.59%.
Several research analysts recently weighed in on the company. Susquehanna Bancshares decreased their target price on Mastercard from $355.00 to $330.00 and set a “positive” rating for the company in a research note on Thursday, April 30th. Daiwa Capital Markets restated a “neutral” rating and set a $314.00 price objective on shares of Mastercard in a research report on Tuesday, July 21st. Jefferies Financial Group downgraded shares of Mastercard from a “buy” rating to a “hold” rating and dropped their target price for the stock from $290.00 to $275.00 in a report on Wednesday, April 15th. Nomura restated a “buy” rating and set a $334.00 target price on shares of Mastercard in a report on Thursday, April 30th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $370.00 price target on shares of Mastercard in a report on Thursday, June 25th. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $331.97.
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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