Commerce Bank Cuts Position in Mastercard Incorporated (NYSE:MA)

Commerce Bank lessened its holdings in Mastercard Incorporated (NYSE:MAGet Rating) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,137 shares of the credit services provider’s stock after selling 816 shares during the period. Commerce Bank’s holdings in Mastercard were worth $38,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in Mastercard by 13.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 26,909,008 shares of the credit services provider’s stock worth $8,489,253,000 after buying an additional 3,102,135 shares in the last quarter. Jennison Associates LLC increased its stake in Mastercard by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 7,874,093 shares of the credit services provider’s stock worth $2,238,920,000 after buying an additional 121,731 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Mastercard by 2.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,870,234 shares of the credit services provider’s stock worth $2,167,420,000 after buying an additional 137,324 shares in the last quarter. Legal & General Group Plc increased its stake in Mastercard by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 6,409,476 shares of the credit services provider’s stock worth $2,022,062,000 after buying an additional 188,626 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Mastercard by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 5,997,669 shares of the credit services provider’s stock worth $1,892,145,000 after buying an additional 39,757 shares in the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MA. Wells Fargo & Company boosted their price objective on Mastercard from $365.00 to $405.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. Wolfe Research boosted their target price on Mastercard from $395.00 to $415.00 in a report on Thursday, January 5th. Morgan Stanley lowered their target price on Mastercard from $441.00 to $437.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Robert W. Baird boosted their target price on Mastercard from $370.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Mastercard from $440.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, October 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $406.73.

Mastercard Stock Up 0.4 %

Shares of NYSE MA opened at $380.01 on Wednesday. The firm has a market cap of $365.36 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 1.70 and a beta of 1.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.11. Mastercard Incorporated has a 52-week low of $276.87 and a 52-week high of $399.92. The business’s 50 day moving average is $354.99 and its two-hundred day moving average is $335.42.

Mastercard (NYSE:MAGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The credit services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.11. Mastercard had a return on equity of 148.94% and a net margin of 45.22%. The business had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.66 billion. Research analysts predict that Mastercard Incorporated will post 10.56 EPS for the current year.

Mastercard Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Stockholders of record on Monday, January 9th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, January 6th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Mastercard’s previous quarterly dividend of $0.49. Mastercard’s dividend payout ratio is currently 22.78%.

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 177,211 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $319.89, for a total transaction of $56,688,026.79. Following the sale, the insider now owns 102,566,047 shares of the company’s stock, valued at $32,809,852,774.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Linda Pistecchia Kirkpatrick sold 7,064 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $320.00, for a total value of $2,260,480.00. Following the transaction, the insider now owns 11,207 shares of the company’s stock, valued at $3,586,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 177,211 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $319.89, for a total value of $56,688,026.79. Following the completion of the transaction, the insider now directly owns 102,566,047 shares in the company, valued at approximately $32,809,852,774.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,819 shares of company stock valued at $117,733,271. 0.29% of the stock is currently owned by company insiders.

Mastercard Company Profile

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Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.

See Also

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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