Mastercard Incorporated (NYSE:MA) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department trimmed its position in Mastercard Incorporated (NYSE:MA) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,069 shares of the credit services provider’s stock after selling 119 shares during the quarter. Mechanics Bank Trust Department’s holdings in Mastercard were worth $2,441,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MA. Vanguard Group Inc. increased its holdings in shares of Mastercard by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after acquiring an additional 742,076 shares during the last quarter. Capital International Investors raised its holdings in Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after purchasing an additional 676,452 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Mastercard by 4.7% during the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after buying an additional 605,909 shares during the last quarter. Norges Bank purchased a new position in shares of Mastercard in the 4th quarter valued at $4,595,559,000. Finally, Ameriprise Financial Inc. raised its stake in Mastercard by 5.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,510,259 shares of the credit services provider’s stock worth $2,181,964,000 after acquiring an additional 306,663 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Foundation Mastercard sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $441.43, for a total value of $48,557,300.00. Following the sale, the insider now owns 94,014,308 shares of the company’s stock, valued at approximately $41,500,735,980.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Foundation Mastercard sold 110,000 shares of Mastercard stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $441.43, for a total transaction of $48,557,300.00. Following the completion of the sale, the insider now owns 94,014,308 shares in the company, valued at approximately $41,500,735,980.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Vosburg sold 9,028 shares of Mastercard stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the sale, the insider now owns 58,940 shares of the company’s stock, valued at $26,585,476.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,025,228 shares of company stock worth $1,366,000,650. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

MA has been the topic of several research reports. Piper Sandler assumed coverage on Mastercard in a report on Monday, May 13th. They set an “overweight” rating and a $531.00 price objective on the stock. Evercore ISI cut their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research report on Tuesday. Mizuho reduced their price objective on Mastercard from $480.00 to $478.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays lowered their target price on shares of Mastercard from $549.00 to $530.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, Robert W. Baird upped their price target on shares of Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $496.91.

Mastercard Price Performance

Shares of MA stock traded down $2.53 during midday trading on Tuesday, reaching $454.43. 969,785 shares of the company traded hands, compared to its average volume of 2,427,322. The firm has a market cap of $422.44 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $452.25 and its two-hundred day simple moving average is $452.47. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $490.00.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the company earned $2.80 earnings per share. Mastercard’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts expect that Mastercard Incorporated will post 14.22 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, July 9th. This represents a $2.64 annualized dividend and a yield of 0.58%. Mastercard’s dividend payout ratio (DPR) is currently 20.99%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.