Westpac Banking Corp raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 527,077 shares of the credit services provider’s stock after buying an additional 50,507 shares during the period. Westpac Banking Corp’s holdings in Mastercard were worth $59,325,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Mastercard by 31.8% in the first quarter. Bank of Montreal Can now owns 3,527,052 shares of the credit services provider’s stock valued at $396,689,000 after buying an additional 851,490 shares during the period. Swiss National Bank raised its position in shares of Mastercard by 24.6% in the first quarter. Swiss National Bank now owns 3,660,220 shares of the credit services provider’s stock valued at $411,665,000 after buying an additional 722,600 shares during the period. Ameriprise Financial Inc. raised its position in shares of Mastercard by 6.2% in the first quarter. Ameriprise Financial Inc. now owns 10,168,300 shares of the credit services provider’s stock valued at $1,143,636,000 after buying an additional 591,427 shares during the period. Karp Capital Management Corp acquired a new position in shares of Mastercard during the first quarter valued at about $52,728,000. Finally, Russell Investments Group Ltd. raised its position in shares of Mastercard by 18.9% in the first quarter. Russell Investments Group Ltd. now owns 2,538,536 shares of the credit services provider’s stock valued at $285,515,000 after buying an additional 404,020 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.
Mastercard Incorporated (NYSE MA) opened at 131.14 on Friday. The company’s 50 day moving average is $127.74 and its 200-day moving average is $118.27. The stock has a market cap of $139.65 billion, a PE ratio of 32.54 and a beta of 1.17. Mastercard Incorporated has a 52-week low of $94.95 and a 52-week high of $132.63.
Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Mastercard Incorporated will post $4.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, July 7th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Wednesday, July 5th. Mastercard’s payout ratio is currently 21.78%.
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Several research analysts have issued reports on MA shares. Morgan Stanley boosted their target price on Mastercard from $124.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. Instinet boosted their target price on Mastercard from $133.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded Mastercard from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $150.00 price objective (up previously from $124.00) on shares of Mastercard in a research note on Monday, July 10th. Finally, Barclays PLC boosted their price objective on shares of Mastercard from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Mastercard currently has an average rating of “Buy” and an average price target of $128.20.
In other news, CFO Martina Hundmejean sold 91,107 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the completion of the transaction, the chief financial officer now directly owns 170,570 shares in the company, valued at $22,138,280.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 87,618 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total transaction of $11,213,351.64. Following the transaction, the insider now owns 112,649,063 shares in the company, valued at $14,416,827,082.74. The disclosure for this sale can be found here. Insiders sold 850,468 shares of company stock valued at $109,574,694 in the last three months. Company insiders own 0.30% of the company’s stock.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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