Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Mastercard Inc (NYSE:MA) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,354,045 shares of the credit services provider’s stock after selling 70,934 shares during the quarter. Mastercard accounts for approximately 1.0% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 11th biggest position. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of Mastercard worth $400,391,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in MA. Pacific Center for Financial Services increased its holdings in Mastercard by 582.4% during the 1st quarter. Pacific Center for Financial Services now owns 116 shares of the credit services provider’s stock worth $28,000 after purchasing an additional 99 shares during the period. Royal Fund Management LLC purchased a new stake in shares of Mastercard during the first quarter worth approximately $40,000. Evolution Wealth Advisors LLC raised its holdings in Mastercard by 530.4% in the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 122 shares in the last quarter. Stuart Chaussee & Associates Inc. raised its holdings in Mastercard by 585.2% in the first quarter. Stuart Chaussee & Associates Inc. now owns 185 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 158 shares in the last quarter. Finally, Virtus Alternative Investment Advisers Inc. purchased a new position in Mastercard in the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 73.72% of the company’s stock.
In other Mastercard news, major shareholder Foundation Mastercard sold 206,010 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $302.80, for a total value of $62,379,828.00. Following the sale, the insider now owns 110,826,524 shares of the company’s stock, valued at $33,558,271,467.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 32,573 shares in the company, valued at $10,009,357.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,052,367 shares of company stock worth $320,098,053. Insiders own 3.79% of the company’s stock.
Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, July 30th. The credit services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $1.89 earnings per share. The firm’s revenue was down 19.8% on a year-over-year basis. As a group, analysts forecast that Mastercard Inc will post 6.63 earnings per share for the current year.
A number of brokerages have recently weighed in on MA. Wedbush raised their price objective on shares of Mastercard from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $370.00 price target on shares of Mastercard in a report on Thursday, June 25th. Bank of America upped their price objective on Mastercard from $324.00 to $358.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Daiwa Capital Markets reissued a “neutral” rating and set a $314.00 target price on shares of Mastercard in a research report on Tuesday, July 21st. Finally, KeyCorp increased their price target on shares of Mastercard from $300.00 to $340.00 and gave the company a “positive” rating in a research note on Monday, August 3rd. Six investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $346.25.
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.
Read More: What is Blockchain?
Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Inc (NYSE:MA).
Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.